Vetr upgraded shares of Starbucks (NASDAQ:SBUX) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. Vetr currently has $59.39 price target on the coffee company’s stock.
A number of other brokerages have also commented on SBUX. Mizuho lowered shares of Starbucks from a buy rating to a neutral rating and raised their price objective for the stock from $68.00 to $75.00 in a report on Thursday, February 1st. They noted that the move was a valuation call. Tigress Financial started coverage on shares of Starbucks in a report on Wednesday, December 27th. They set a buy rating on the stock. Wedbush restated a buy rating and set a $70.00 price objective on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Oppenheimer restated a buy rating and set a $66.00 price objective on shares of Starbucks in a report on Friday, January 19th. Finally, Piper Jaffray restated a buy rating and set a $70.00 price objective on shares of Starbucks in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty have issued a buy rating to the stock. Starbucks has an average rating of Buy and an average target price of $64.05.
Shares of NASDAQ:SBUX opened at $59.14 on Tuesday. Starbucks has a 12 month low of $52.58 and a 12 month high of $64.87. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The firm has a market cap of $82,691.45, a P/E ratio of 28.71, a P/E/G ratio of 1.63 and a beta of 0.64.
In other news, Director Myron E. Ullman III sold 25,000 shares of Starbucks stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.52, for a total value of $1,363,000.00. Following the completion of the transaction, the director now owns 39,000 shares of the company’s stock, valued at approximately $2,126,280. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Craig Weatherup sold 59,838 shares of Starbucks stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the completion of the transaction, the director now directly owns 26,500 shares of the company’s stock, valued at approximately $1,592,650. The disclosure for this sale can be found here. In the last three months, insiders sold 247,664 shares of company stock valued at $14,243,602. Insiders own 3.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Middleton & Co Inc MA boosted its holdings in shares of Starbucks by 11.8% during the 3rd quarter. Middleton & Co Inc MA now owns 98,873 shares of the coffee company’s stock worth $5,310,000 after buying an additional 10,458 shares during the period. WINTON GROUP Ltd boosted its holdings in shares of Starbucks by 29.7% during the 2nd quarter. WINTON GROUP Ltd now owns 27,191 shares of the coffee company’s stock worth $1,586,000 after buying an additional 6,225 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Starbucks by 3,076.5% during the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after buying an additional 13,452,551 shares during the period. Honeywell International Inc. boosted its holdings in shares of Starbucks by 11.9% during the 3rd quarter. Honeywell International Inc. now owns 709,062 shares of the coffee company’s stock worth $38,084,000 after buying an additional 75,400 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Starbucks by 7.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 275,000 shares of the coffee company’s stock worth $14,770,000 after buying an additional 20,000 shares during the period. 73.52% of the stock is owned by institutional investors and hedge funds.
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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.
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