Starbucks Corp. (NASDAQ:SBUX)‘s stock had its “buy” rating restated by research analysts at Goldman Sachs Group Inc. in a research report issued on Friday. They currently have a $69.00 target price on the coffee company’s stock. Goldman Sachs Group Inc.’s target price suggests a potential upside of 27.68% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded Starbucks Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Deutsche Bank AG set a $64.00 price target on Starbucks Corp. and gave the company a “hold” rating in a report on Sunday, July 24th. Nomura reaffirmed a “buy” rating on shares of Starbucks Corp. in a report on Tuesday, July 12th. Robert W. Baird reaffirmed an “outperform” rating on shares of Starbucks Corp. in a report on Tuesday, June 28th. Finally, Jefferies Group reaffirmed an “in-line” rating and set a $65.00 price target (down from $70.00) on shares of Starbucks Corp. in a report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $66.50.
Shares of Starbucks Corp. (NASDAQ:SBUX) opened at 54.04 on Friday. The stock has a market capitalization of $79.26 billion, a P/E ratio of 30.36 and a beta of 0.80. The stock’s 50 day moving average price is $55.30 and its 200 day moving average price is $56.74. Starbucks Corp. has a one year low of $52.63 and a one year high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last posted its earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. The business earned $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. On average, analysts forecast that Starbucks Corp. will post $1.89 EPS for the current year.
In other news, Director Myron E. Ullman III sold 12,654 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total value of $742,789.80. Following the transaction, the director now owns 26,654 shares of the company’s stock, valued at $1,564,589.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.38% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Adams Diversified Equity Fund Inc. purchased a new position in Starbucks Corp. during the second quarter valued at approximately $14,354,000. Hermes Investment Management Ltd. increased its position in Starbucks Corp. by 19.2% in the second quarter. Hermes Investment Management Ltd. now owns 191,294 shares of the coffee company’s stock valued at $10,927,000 after buying an additional 30,800 shares during the last quarter. First Republic Investment Management Inc. increased its position in Starbucks Corp. by 4.9% in the first quarter. First Republic Investment Management Inc. now owns 1,438,991 shares of the coffee company’s stock valued at $85,907,000 after buying an additional 66,883 shares during the last quarter. Ledyard National Bank increased its position in Starbucks Corp. by 5.7% in the second quarter. Ledyard National Bank now owns 124,528 shares of the coffee company’s stock valued at $7,113,000 after buying an additional 6,720 shares during the last quarter. Finally, National Pension Service increased its position in Starbucks Corp. by 4.1% in the first quarter. National Pension Service now owns 774,160 shares of the coffee company’s stock valued at $46,217,000 after buying an additional 30,627 shares during the last quarter. 68.13% of the stock is currently owned by institutional investors.
About Starbucks Corp.
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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