Starbucks Corp. (NASDAQ:SBUX) had its price objective lowered by Credit Agricole SA from $70.00 to $68.00 in a research note released on Wednesday. Credit Agricole SA currently has a buy rating on the coffee company’s stock.
SBUX has been the subject of a number of other research reports. Vetr upgraded Starbucks Corp. from a buy rating to a strong-buy rating and set a $61.76 price objective for the company in a report on Monday, August 22nd. BTIG Research set a $64.00 price objective on Starbucks Corp. and gave the company a buy rating in a report on Monday, September 12th. Morgan Stanley reiterated an overweight rating on shares of Starbucks Corp. in a report on Wednesday, June 29th. Piper Jaffray Cos. set a $72.00 price objective on Starbucks Corp. and gave the company a buy rating in a report on Tuesday, September 20th. Finally, Nomura reiterated a buy rating and issued a $70.00 price objective on shares of Starbucks Corp. in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $66.54.
Starbucks Corp. (NASDAQ:SBUX) opened at 54.14 on Wednesday. The company has a 50 day moving average price of $55.13 and a 200-day moving average price of $56.64. The firm has a market cap of $79.40 billion, a price-to-earnings ratio of 30.42 and a beta of 0.83. Starbucks Corp. has a 52-week low of $52.63 and a 52-week high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates 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%. Equities research analysts anticipate that Starbucks Corp. will post $1.89 EPS for the current year.
In related news, Director Myron E. Ullman III sold 12,654 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total transaction of $742,789.80. Following the sale, the director now owns 26,654 shares of the company’s stock, valued at approximately $1,564,589.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.38% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Adams Diversified Equity Fund Inc. bought a new position in shares of Starbucks Corp. during the second quarter valued at approximately $14,354,000. Hermes Investment Management Ltd. increased its position in shares of 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 shares of 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 shares of 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 shares of 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 hedge funds and other 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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