Starbucks Corp. (NASDAQ:SBUX) – Analysts at Wedbush lowered their Q4 2016 EPS estimates for Starbucks Corp. in a report released on Tuesday. Wedbush analyst N. Setyan now expects that the brokerage will post earnings of $0.54 per share for the quarter, down from their previous estimate of $0.55. Wedbush has a “Outperform” rating and a $65.00 price objective on the stock. Wedbush also issued estimates for Starbucks Corp.’s Q2 2017 earnings at $0.46 EPS.
SBUX has been the topic of a number of other reports. Vetr raised Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $61.76 price target on the stock in a report on Monday, August 22nd. BTIG Research set a $64.00 price objective on Starbucks Corp. and gave the stock a “buy” rating in a report on Monday, September 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Starbucks Corp. in a report on Wednesday, June 29th. Piper Jaffray Cos. set a $72.00 price objective on Starbucks Corp. and gave the stock a “buy” rating in a report on Tuesday, September 20th. Finally, Nomura reaffirmed a “buy” rating and set a $70.00 price objective on shares of Starbucks Corp. in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $66.54.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 1.42% on Friday, hitting $54.21. 6,222,776 shares of the stock traded hands. Starbucks Corp. has a 52-week low of $52.63 and a 52-week high of $64.00. The firm has a market cap of $79.50 billion, a PE ratio of 30.46 and a beta of 0.80. The firm has a 50 day moving average price of $55.17 and a 200 day moving average price of $56.68.
Starbucks Corp. (NASDAQ:SBUX) last issued its earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.34 billion.
Hedge funds have recently bought and sold shares of the company. Farmers National Bank bought a new stake in Starbucks Corp. during the second quarter valued at approximately $101,000. Cascade Investment Advisors Inc. bought a new stake in Starbucks Corp. during the second quarter valued at approximately $107,000. Valley National Advisers Inc. raised 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 approximately $123,000. Finally, Proficio Capital Partners LLC raised 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 currently owned by hedge funds and other institutional investors.
In related news, Director Myron E. Ullman III sold 12,654 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total transaction of $742,789.80. Following the sale, the director now directly owns 26,654 shares of the company’s stock, valued at $1,564,589.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.38% of the company’s stock.
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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