Starbucks Corp. (NASDAQ:SBUX) had its target price trimmed by Credit Agricole SA from $70.00 to $68.00 in a report issued on Wednesday morning. The brokerage currently has a buy rating on the coffee company’s stock.
A number of other equities research analysts have also recently weighed in on SBUX. Stifel Nicolaus reiterated a hold rating on shares of Starbucks Corp. in a research report on Monday, June 6th. Royal Bank Of Canada reiterated an outperform rating and set a $68.00 price target on shares of Starbucks Corp. in a research report on Monday, June 13th. Wedbush reiterated an outperform rating and set a $70.00 price target on shares of Starbucks Corp. in a research report on Tuesday, June 14th. Zacks Investment Research cut shares of Starbucks Corp. from a buy rating to a hold rating in a research report on Monday, June 27th. Finally, Robert W. Baird reiterated an outperform rating on shares of Starbucks Corp. in a research report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $66.54.
Shares of Starbucks Corp. (NASDAQ:SBUX) opened at 53.84 on Wednesday. Starbucks Corp. has a 12 month low of $52.63 and a 12 month high of $64.00. The stock has a 50 day moving average of $55.08 and a 200 day moving average of $56.56. The stock has a market cap of $78.96 billion, a PE ratio of 30.25 and a beta of 0.83.
Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. The firm earned $5.20 billion during the quarter, compared to analysts’ expectations of $5.34 billion. On average, equities analysts anticipate that Starbucks Corp. will post $1.89 earnings per share for the current fiscal year.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the company’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 transaction, the director now directly owns 26,654 shares in the company, valued at approximately $1,564,589.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.38% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can bought a new position in Starbucks Corp. during the second quarter worth approximately $204,254,000. Emerald Acquisition Ltd. bought a new position in Starbucks Corp. during the second quarter worth approximately $148,507,000. Capital World Investors increased its position in Starbucks Corp. by 8.1% in the second quarter. Capital World Investors now owns 26,626,026 shares of the coffee company’s stock worth $1,520,879,000 after buying an additional 2,000,107 shares in the last quarter. Ameriprise Financial Inc. increased its position in Starbucks Corp. by 75.9% in the second quarter. Ameriprise Financial Inc. now owns 4,360,676 shares of the coffee company’s stock worth $249,099,000 after buying an additional 1,882,130 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in Starbucks Corp. by 8.7% in the second quarter. Janus Capital Management LLC now owns 21,122,832 shares of the coffee company’s stock worth $1,206,513,000 after buying an additional 1,691,400 shares in the last quarter. 68.13% of the stock is owned by institutional investors.
About Starbucks Corp.
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.
Receive News & Ratings for Starbucks Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corp. and related companies with MarketBeat.com's FREE daily email newsletter.