Wedbush Reaffirms Hold Rating for Starbucks (SBUX)

Wedbush reissued their hold rating on shares of Starbucks (NASDAQ:SBUX) in a report published on Thursday morning, AnalystRatings.com reports. They currently have a $70.00 price objective on the coffee company’s stock.

Several other analysts also recently weighed in on SBUX. Zacks Investment Research upgraded shares of Starbucks from a hold rating to a buy rating and set a $73.00 price objective on the stock in a research report on Monday, January 28th. Mizuho set a $75.00 price objective on shares of Starbucks and gave the company a buy rating in a research report on Thursday, April 11th. BidaskClub downgraded shares of Starbucks from a strong-buy rating to a buy rating in a research report on Tuesday, March 12th. BMO Capital Markets cut their price objective on shares of Starbucks to $60.00 and set a market perform rating on the stock in a research report on Friday, January 11th. They noted that the move was a valuation call. Finally, UBS Group downgraded shares of Starbucks from a buy rating to a neutral rating and lifted their price objective for the company from $72.00 to $78.00 in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $69.08.

NASDAQ SBUX opened at $76.06 on Thursday. Starbucks has a one year low of $47.37 and a one year high of $76.95. The company has a quick ratio of 1.16, a current ratio of 1.41 and a debt-to-equity ratio of 7.73. The stock has a market capitalization of $94.59 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, January 24th. The coffee company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.10. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.49 billion. Starbucks had a net margin of 11.98% and a return on equity of 193.00%. Starbucks’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. Equities analysts forecast that Starbucks will post 2.73 EPS for the current year.

In other Starbucks news, EVP Vivek C. Varma sold 70,364 shares of the business’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $70.05, for a total transaction of $4,928,998.20. Following the sale, the executive vice president now directly owns 138,004 shares in the company, valued at approximately $9,667,180.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek C. Varma sold 73,242 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $68.36, for a total transaction of $5,006,823.12. Following the sale, the executive vice president now owns 140,882 shares in the company, valued at $9,630,693.52. The disclosure for this sale can be found here. Insiders have sold a total of 565,806 shares of company stock worth $38,789,988 over the last 90 days. 3.98% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Paragon Capital Management LLC bought a new stake in shares of Starbucks in the 1st quarter worth approximately $29,000. Lake Point Wealth Management bought a new stake in shares of Starbucks in the 4th quarter worth approximately $25,000. Veritas Investment Management LLP bought a new stake in shares of Starbucks in the 4th quarter worth approximately $28,000. Highwater Wealth Management LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $28,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $32,000. Institutional investors own 73.34% 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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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