Starbucks Corporation (SBUX) Now Covered by Stifel Nicolaus
Stock analysts at Stifel Nicolaus initiated coverage on shares of Starbucks Corporation (NASDAQ:SBUX) in a research report issued on Tuesday. The firm set a “hold” rating and a $58.00 price target on the coffee company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 7.55% from the company’s current price.
A number of other research firms have also recently weighed in on SBUX. Sanford C. Bernstein reiterated a “buy” rating and set a $67.00 price target on shares of Starbucks Corporation in a report on Monday, June 12th. Cowen and Company reiterated an “outperform” rating and set a $66.00 price target on shares of Starbucks Corporation in a report on Friday, July 21st. UBS AG set a $70.00 price target on Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. Mizuho reissued a “buy” rating and set a $75.00 target price on shares of Starbucks Corporation in a research note on Friday, September 29th. Finally, Stephens reissued an “equal weight” rating and set a $52.00 target price (down previously from $58.00) on shares of Starbucks Corporation in a research note on Friday, September 29th. They noted that the move was a valuation call. Thirteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.34.
Starbucks Corporation (NASDAQ SBUX) traded up 0.80% during mid-day trading on Tuesday, hitting $54.36. The company had a trading volume of 622,933 shares. The company has a market capitalization of $78.49 billion, a P/E ratio of 27.44 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 company has a 50-day moving average price of $54.26 and a 200 day moving average price of $57.77.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. On average, analysts forecast that Starbucks Corporation will post $2.06 EPS for the current fiscal year.
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In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the transaction, the director now directly owns 36,966 shares in the company, valued at approximately $1,974,354.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the stock in a transaction on Friday, August 4th. The stock was bought at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the purchase, the director now directly owns 18,000 shares in the company, valued at approximately $995,400. The disclosure for this purchase can be found here. Company insiders own 3.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Starbucks Corporation by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after purchasing an additional 1,953,003 shares during the last quarter. State Street Corp grew its stake in shares of Starbucks Corporation by 2.7% in the 1st quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after purchasing an additional 1,598,669 shares during the last quarter. Capital World Investors grew its stake in shares of Starbucks Corporation by 2.0% in the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after purchasing an additional 895,432 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Starbucks Corporation by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after purchasing an additional 2,234,324 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Starbucks Corporation by 5.2% in the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after purchasing an additional 1,060,298 shares during the last quarter. Institutional investors own 70.83% of the company’s stock.
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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