Starbucks Corporation (NASDAQ:SBUX) Receives Consensus Rating of “Buy” from Brokerages

Shares of Starbucks Corporation (NASDAQ:SBUX) have earned a consensus recommendation of “Buy” from the thirty-six brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, twenty-five have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $65.71.

SBUX has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation in a research report on Tuesday, April 18th. Jefferies Group LLC reissued a “buy” rating and set a $65.00 price objective on shares of Starbucks Corporation in a research report on Friday, May 12th. Zacks Investment Research downgraded shares of Starbucks Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Deutsche Bank AG reissued a “hold” rating and set a $59.00 price objective on shares of Starbucks Corporation in a research report on Tuesday, April 11th. Finally, Vetr downgraded shares of Starbucks Corporation from a “buy” rating to a “hold” rating and set a $63.91 price objective on the stock. in a research report on Wednesday, April 26th.

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Shares of Starbucks Corporation (NASDAQ:SBUX) traded down 0.73% on Monday, reaching $58.33. 6,774,228 shares of the company traded hands. The stock has a market capitalization of $84.47 billion, a P/E ratio of 28.85 and a beta of 0.82. The stock’s 50 day moving average price is $61.21 and its 200-day moving average price is $58.43. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, April 27th. The coffee company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. Starbucks Corporation had a net margin of 13.47% and a return on equity of 51.65%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts forecast that Starbucks Corporation will post $2.10 earnings per share for the current fiscal year.

In other news, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total value of $606,300.00. Following the transaction, the director now owns 24,000 shares in the company, valued at approximately $1,455,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Myron E. Ullman III sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $60.43, for a total transaction of $1,208,600.00. Following the completion of the transaction, the director now owns 34,000 shares in the company, valued at approximately $2,054,620. The disclosure for this sale can be found here. Insiders sold a total of 144,826 shares of company stock worth $8,642,454 in the last quarter. Company insiders own 3.40% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Hudson Valley Investment Advisors Inc. ADV boosted its position in shares of Starbucks Corporation by 11.9% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 43,265 shares of the coffee company’s stock valued at $2,523,000 after buying an additional 4,615 shares during the period. Crow Point Partners LLC raised its stake in Starbucks Corporation by 144.7% in the second quarter. Crow Point Partners LLC now owns 6,208 shares of the coffee company’s stock valued at $362,000 after buying an additional 3,671 shares in the last quarter. CWM LLC raised its stake in Starbucks Corporation by 0.6% in the second quarter. CWM LLC now owns 5,279 shares of the coffee company’s stock valued at $308,000 after buying an additional 30 shares in the last quarter. TNB Financial raised its stake in Starbucks Corporation by 39.3% in the second quarter. TNB Financial now owns 6,546 shares of the coffee company’s stock valued at $382,000 after buying an additional 1,846 shares in the last quarter. Finally, Ardevora Asset Management LLP raised its stake in Starbucks Corporation by 7.2% in the second quarter. Ardevora Asset Management LLP now owns 424,200 shares of the coffee company’s stock valued at $24,735,000 after buying an additional 28,400 shares in the last quarter. Hedge funds and other institutional investors own 69.55% 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.

Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

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