Barclays Raises Starbucks (SBUX) Price Target to $65.00
Starbucks (NASDAQ:SBUX) had its price objective raised by equities researchers at Barclays from $58.00 to $65.00 in a research note issued on Tuesday. The firm currently has an “equal weight” rating on the coffee company’s stock. Barclays’ price objective indicates a potential upside of 7.20% from the stock’s previous close.
Several other analysts have also recently weighed in on SBUX. Stephens reaffirmed an “equal weight” rating and set a $52.00 price objective (down from $58.00) on shares of Starbucks in a research note on Friday, September 29th. They noted that the move was a valuation call. Mizuho reaffirmed a “buy” rating and set a $75.00 price objective on shares of Starbucks in a research note on Friday, September 29th. Stifel Nicolaus initiated coverage on shares of Starbucks in a research note on Tuesday, October 3rd. They set a “hold” rating and a $58.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $62.00 price objective on shares of Starbucks in a research note on Wednesday, October 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Starbucks in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $63.36.
Starbucks (SBUX) traded up $0.23 during trading hours on Tuesday, reaching $60.64. 5,493,285 shares of the company traded hands, compared to its average volume of 8,210,000. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. The firm has a market capitalization of $86,290.00, a price-to-earnings ratio of 30.78, a PEG ratio of 1.64 and a beta of 0.76. Starbucks has a 52-week low of $52.58 and a 52-week high of $64.87.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. equities research analysts expect that Starbucks will post 2.37 earnings per share for the current fiscal year.
In other Starbucks news, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the transaction, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at $594,444.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock worth $28,559,521 over the last three months. 3.40% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in SBUX. First American Bank raised its holdings in Starbucks by 6.2% in the second quarter. First American Bank now owns 21,222 shares of the coffee company’s stock worth $1,237,000 after purchasing an additional 1,236 shares during the period. Perkins Coie Trust Co raised its holdings in Starbucks by 145.5% in the second quarter. Perkins Coie Trust Co now owns 17,379 shares of the coffee company’s stock worth $1,013,000 after purchasing an additional 10,299 shares during the period. Evanson Asset Management LLC raised its holdings in Starbucks by 32.2% in the second quarter. Evanson Asset Management LLC now owns 6,514 shares of the coffee company’s stock worth $380,000 after purchasing an additional 1,585 shares during the period. Koshinski Asset Management Inc. raised its holdings in Starbucks by 31.3% in the second quarter. Koshinski Asset Management Inc. now owns 6,843 shares of the coffee company’s stock worth $399,000 after purchasing an additional 1,632 shares during the period. Finally, RB Capital Management LLC raised its holdings in Starbucks by 1.4% in the second quarter. RB Capital Management LLC now owns 50,508 shares of the coffee company’s stock worth $2,945,000 after purchasing an additional 701 shares during the period. 70.72% of the stock is currently owned by hedge funds and other institutional investors.
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Starbucks Company Profile
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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