Starbucks (SBUX) Upgraded by Vetr to Buy

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.

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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.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the business posted $0.52 earnings per share. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. research analysts predict that Starbucks will post 2.49 earnings per share for the current fiscal year.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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