Starbucks (NASDAQ:SBUX) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.
SBUX has been the subject of several other research reports. UBS Group reissued a “buy” rating on shares of Starbucks in a research report on Wednesday, June 20th. Wedbush lowered their price objective on shares of Starbucks from $54.00 to $53.00 and set a “neutral” rating for the company in a research report on Friday, July 27th. Zacks Investment Research downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Telsey Advisory Group downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $70.00 to $60.00 in a research report on Wednesday, June 20th. Finally, KeyCorp started coverage on shares of Starbucks in a research report on Wednesday, October 3rd. They set an “overweight” rating and a $65.00 price objective for the company. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the stock. Starbucks has a consensus rating of “Buy” and an average target price of $60.21.
Shares of SBUX stock opened at $56.54 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 1.54. Starbucks has a 12-month low of $47.37 and a 12-month high of $61.94. The firm has a market cap of $76.68 billion, a PE ratio of 27.45, a P/E/G ratio of 1.69 and a beta of 0.60.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 26th. The coffee company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.87% and a return on equity of 67.11%. The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year. On average, research analysts anticipate that Starbucks will post 2.4 EPS for the current fiscal year.
In other Starbucks news, Director Javier G. Teruel sold 166,666 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $52.70, for a total value of $8,783,298.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 99,166 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the completion of the sale, the director now owns 29,000 shares of the company’s stock, valued at approximately $1,596,450. The disclosure for this sale can be found here. In the last quarter, insiders sold 295,832 shares of company stock valued at $15,834,037. Corporate insiders own 3.48% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Archford Capital Strategies LLC lifted its stake in Starbucks by 669.7% in the second quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock valued at $107,000 after acquiring an additional 1,902 shares during the last quarter. Fort L.P. acquired a new stake in shares of Starbucks during the 2nd quarter worth about $112,000. Trilogy Capital Inc. acquired a new stake in shares of Starbucks during the 1st quarter worth about $135,000. Point72 Hong Kong Ltd acquired a new stake in shares of Starbucks during the 2nd quarter worth about $115,000. Finally, Gables Capital Management Inc. acquired a new stake in shares of Starbucks during the 1st quarter worth about $159,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
Further Reading: Risk Tolerance
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