Starbucks Corporation (NASDAQ:SBUX) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
A number of other equities research analysts have also weighed in on SBUX. Jefferies Group LLC restated a “buy” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a report on Friday, May 12th. Zacks Investment Research lowered shares of Starbucks Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, March 28th. Deutsche Bank AG upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and raised their price objective for the company from $59.00 to $69.00 in a report on Monday, May 15th. Credit Suisse Group raised their price objective on shares of Starbucks Corporation from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Friday, April 28th. Finally, Telsey Advisory Group initiated coverage on shares of Starbucks Corporation in a report on Monday, March 27th. They issued an “outperform” rating and a $66.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-five have issued a buy rating and three have assigned a strong buy rating to the stock. Starbucks Corporation presently has an average rating of “Buy” and a consensus price target of $65.48.
Shares of Starbucks Corporation (SBUX) traded up 1.112% during trading on Tuesday, reaching $58.665. 4,893,181 shares of the company traded hands. The company has a market capitalization of $84.95 billion, a price-to-earnings ratio of 29.013 and a beta of 0.82. 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 price is $59.59 and its 200-day moving average price is $58.55.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, April 27th. The coffee company reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.42 billion. Starbucks Corporation had a net margin of 13.47% and a return on equity of 51.65%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 EPS. Equities analysts anticipate that Starbucks Corporation will post $2.10 EPS for the current fiscal year.
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In other news, insider Clifford Burrows sold 114,826 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $59.46, for a total value of $6,827,553.96. Following the completion of the sale, the insider now directly owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the sale, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The disclosure for this sale can be found here. Insiders have sold 144,826 shares of company stock valued at $8,642,454 over the last ninety days. Insiders own 3.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of SBUX. Seven Eight Capital LP purchased a new position in Starbucks Corporation during the fourth quarter worth approximately $753,000. Ancora Advisors LLC purchased a new position in Starbucks Corporation during the fourth quarter worth approximately $219,000. Banco Santander S.A. purchased a new position in Starbucks Corporation during the fourth quarter worth approximately $3,069,000. Guggenheim Capital LLC increased its position in Starbucks Corporation by 17.8% in the fourth quarter. Guggenheim Capital LLC now owns 1,463,722 shares of the coffee company’s stock worth $81,266,000 after buying an additional 221,606 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Starbucks Corporation by 28.8% in the fourth quarter. AQR Capital Management LLC now owns 615,570 shares of the coffee company’s stock worth $34,176,000 after buying an additional 137,659 shares in the last quarter. 69.65% of the stock is owned by institutional investors and hedge funds.
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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