Deutsche Bank AG reissued their buy rating on shares of Starbucks Corporation (NASDAQ:SBUX) in a research report sent to investors on Monday morning. Deutsche Bank AG currently has a $67.00 price objective on the coffee company’s stock.
Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Starbucks Corporation from a sell rating to a hold rating in a research report on Wednesday, September 6th. Cowen and Company reiterated a buy rating and set a $63.00 price objective on shares of Starbucks Corporation in a research note on Friday, September 1st. Bank of America Corporation reiterated a neutral rating and set a $65.00 price objective on shares of Starbucks Corporation in a research note on Thursday, September 14th. Wedbush upgraded shares of Starbucks Corporation from a neutral rating to an outperform rating and boosted their price objective for the stock from $57.00 to $60.00 in a research note on Friday, August 25th. Finally, Vetr upgraded shares of Starbucks Corporation from a buy rating to a strong-buy rating and set a $67.14 price objective for the company in a research note on Thursday, June 22nd. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $64.24.
Starbucks Corporation (NASDAQ:SBUX) opened at 56.11 on Monday. The company has a market cap of $81.02 billion, a P/E ratio of 28.32 and a beta of 0.78. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The firm’s 50 day moving average is $54.57 and its 200-day moving average is $57.73.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Starbucks Corporation will post $2.06 earnings per share for the current fiscal year.
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In related news, insider John Culver sold 64,776 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the sale, the insider now directly owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the sale, the director now directly owns 36,966 shares in the company, valued at $1,974,354.06. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Crow Point Partners LLC boosted its holdings in Starbucks Corporation by 36.8% during the third quarter. Crow Point Partners LLC now owns 8,491 shares of the coffee company’s stock worth $463,000 after buying an additional 2,283 shares in the last quarter. Osborn Williams & Donohoe LLC boosted its holdings in Starbucks Corporation by 6.3% during the third quarter. Osborn Williams & Donohoe LLC now owns 68,727 shares of the coffee company’s stock worth $3,692,000 after buying an additional 4,101 shares in the last quarter. Neville Rodie & Shaw Inc. purchased a new stake in Starbucks Corporation during the third quarter worth $236,000. Curbstone Financial Management Corp boosted its holdings in Starbucks Corporation by 98.1% during the third quarter. Curbstone Financial Management Corp now owns 14,864 shares of the coffee company’s stock worth $798,000 after buying an additional 7,362 shares in the last quarter. Finally, Bath Savings Trust Co boosted its holdings in Starbucks Corporation by 3.9% during the third quarter. Bath Savings Trust Co now owns 145,085 shares of the coffee company’s stock worth $7,792,000 after buying an additional 5,450 shares in the last quarter. 70.82% of the stock is currently owned by hedge funds and other institutional investors.
About Starbucks Corporation
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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