Starbucks Corp. (NASDAQ:SBUX) had its target price reduced by Wedbush from $70.00 to $65.00 in a research report released on Wednesday morning. Wedbush currently has an outperform rating on the coffee company’s stock.
SBUX has been the subject of a number of other research reports. BTIG Research decreased their target price on shares of Starbucks Corp. from $75.00 to $64.00 and set a buy rating for the company in a research note on Friday, July 22nd. RBC Capital Markets reaffirmed an outperform rating and set a $68.00 target price on shares of Starbucks Corp. in a research note on Monday, July 25th. Piper Jaffray Cos. reaffirmed an outperform rating and set a $72.00 target price on shares of Starbucks Corp. in a research note on Friday, July 22nd. Macquarie raised shares of Starbucks Corp. from a buy rating to a strong-buy rating in a research note on Wednesday, September 14th. Finally, Vetr downgraded shares of Starbucks Corp. from a strong-buy rating to a buy rating and set a $62.21 target price for the company. in a research note on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $66.54.
Starbucks Corp. (NASDAQ:SBUX) opened at 53.84 on Wednesday. The company has a market capitalization of $78.96 billion, a price-to-earnings ratio of 30.25 and a beta of 0.83. Starbucks Corp. has a 52-week low of $52.63 and a 52-week high of $64.00. The stock has a 50 day moving average price of $55.08 and a 200 day moving average price of $56.56.
Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.49. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. The company earned $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. Equities research analysts forecast that Starbucks Corp. will post $1.89 earnings per share for the current year.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $58.70, for a total value of $742,789.80. Following the completion of the sale, the director now directly owns 26,654 shares of the company’s stock, valued at approximately $1,564,589.80. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.38% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Farmers National Bank bought a new stake in Starbucks Corp. during the second quarter valued at about $101,000. Cascade Investment Advisors Inc. bought a new stake in Starbucks Corp. during the second quarter valued at about $107,000. Valley National Advisers Inc. boosted its stake in Starbucks Corp. by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,062 shares of the coffee company’s stock valued at $118,000 after buying an additional 6 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Starbucks Corp. during the second quarter valued at about $123,000. Finally, Proficio Capital Partners LLC boosted its stake in Starbucks Corp. by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock valued at $128,000 after buying an additional 109 shares during the period. 68.13% of the stock is owned by institutional investors.
Starbucks Corp. Company Profile
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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