Starbucks (NASDAQ:SBUX) received a $75.00 price target from analysts at Mizuho in a report released on Thursday, TipRanks reports. The brokerage currently has a “buy” rating on the coffee company’s stock. Mizuho’s target price would indicate a potential downside of 2.15% from the stock’s current price.
A number of other analysts have also recently weighed in on SBUX. Zacks Investment Research raised Starbucks from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Monday, January 28th. BidaskClub cut Starbucks from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 12th. BMO Capital Markets raised their price objective on Starbucks to $63.00 and gave the stock a “market perform” rating in a research report on Friday, December 14th. They noted that the move was a valuation call. UBS Group cut Starbucks from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $72.00 to $78.00 in a research report on Monday, April 8th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $73.00 price objective (up previously from $66.00) on shares of Starbucks in a research report on Friday, December 14th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Starbucks presently has an average rating of “Buy” and a consensus price target of $68.00.
Shares of Starbucks stock traded up $0.78 during trading on Thursday, reaching $76.65. The company’s stock had a trading volume of 5,193,473 shares, compared to its average volume of 7,152,785. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.41 and a quick ratio of 1.16. The stock has a market capitalization of $94.35 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.17 and a beta of 0.51. Starbucks has a 1-year low of $47.37 and a 1-year high of $76.95.
In related news, insider Clifford Burrows sold 152,634 shares of the firm’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $67.22, for a total value of $10,260,057.48. Following the completion of the transaction, the insider now owns 311,083 shares in the company, valued at approximately $20,910,999.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vivek C. Varma sold 70,364 shares of the firm’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $70.05, for a total value of $4,928,998.20. Following the completion of the transaction, the executive vice president now owns 138,004 shares of the company’s stock, valued at approximately $9,667,180.20. The disclosure for this sale can be found here. Insiders sold a total of 565,806 shares of company stock valued at $38,789,988 in the last 90 days. 3.98% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBUX. Lake Point Wealth Management purchased a new position in shares of Starbucks during the 4th quarter valued at about $25,000. Highwater Wealth Management LLC purchased a new position in shares of Starbucks during the 4th quarter valued at about $28,000. Veritas Investment Management LLP purchased a new position in shares of Starbucks during the 4th quarter valued at about $28,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Starbucks during the 4th quarter valued at about $32,000. Finally, Clean Yield Group purchased a new position in shares of Starbucks during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 73.36% of the company’s stock.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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