Starbucks (NASDAQ:SBUX) Upgraded to Strong-Buy by Vetr

Starbucks (NASDAQ:SBUX) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday, November 14th. The firm currently has a $64.12 price objective on the coffee company’s stock. Vetr‘s target price points to a potential upside of 11.86% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. UBS dropped their price objective on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Cowen restated a “buy” rating and issued a $63.00 price objective on shares of Starbucks in a research note on Friday, September 1st. Mizuho set a $75.00 price objective on shares of Starbucks and gave the company a “buy” rating in a research note on Wednesday, November 1st. Morgan Stanley increased their price objective on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $63.26.

Starbucks (NASDAQ SBUX) traded down $0.50 during trading hours on Tuesday, reaching $57.32. 12,762,015 shares of the company traded hands, compared to its average volume of 9,560,161. The firm has a market cap of $81,554.90, a PE ratio of 27.69, a P/E/G ratio of 1.57 and a beta of 0.75. Starbucks has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $5.70 billion during 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 business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 EPS. research analysts forecast that Starbucks will post 2.31 EPS for the current fiscal year.

In other Starbucks news, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total transaction of $3,627,471.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Paul Mutty sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the transaction, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 525,550 shares of company stock worth $29,688,442. Insiders own 3.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Appropriate Balance Financial Services Inc. raised its position in shares of Starbucks by 1.6% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after acquiring an additional 13 shares during the period. Jacobi Capital Management LLC raised its position in shares of Starbucks by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after acquiring an additional 50 shares during the period. Gradient Investments LLC raised its position in shares of Starbucks by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after acquiring an additional 46 shares during the period. Sharkey Howes & Javer raised its holdings in Starbucks by 8.5% during the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after buying an additional 150 shares during the period. Finally, IHT Wealth Management LLC raised its holdings in Starbucks by 10.2% during the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after buying an additional 187 shares during the period. Institutional investors own 71.16% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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