Starbucks (NASDAQ:SBUX) has been given a $64.00 price target by research analysts at UBS in a report issued on Friday, March 9th, www.tipranks.com reports. The brokerage presently has a “buy” rating on the coffee company’s stock. UBS’s price objective would indicate a potential upside of 13.80% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. BidaskClub raised Starbucks from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Vetr cut Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.03 price objective on the stock. in a research report on Wednesday, February 14th. Mizuho cut Starbucks from a “buy” rating to a “neutral” rating and upped their price objective for the company from $68.00 to $75.00 in a research report on Thursday, February 1st. They noted that the move was a valuation call. Finally, Sanford C. Bernstein cut Starbucks from an “outperform” rating to a “market perform” rating in a research report on Monday, January 29th. Twelve investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $64.05.
Shares of SBUX traded down $1.65 during mid-day trading on Friday, reaching $56.24. The company had a trading volume of 16,733,284 shares, compared to its average volume of 11,029,073. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. Starbucks has a 52 week low of $52.58 and a 52 week high of $64.87. The stock has a market cap of $81,370.18, a P/E ratio of 27.30, a P/E/G ratio of 1.60 and a beta of 0.63.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 return on equity of 56.35% and a net margin of 19.28%. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. equities analysts anticipate that Starbucks will post 2.49 EPS for the current year.
In other Starbucks news, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.52, for a total value of $1,363,000.00. Following the completion of the sale, the director now owns 39,000 shares in the company, valued at approximately $2,126,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Clifford Burrows sold 162,826 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the sale, the insider now owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. Insiders sold a total of 247,664 shares of company stock valued at $14,243,602 over the last 90 days. 3.48% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Taylor Hoffman Wealth Management purchased a new stake in Starbucks in the 4th quarter worth $107,000. Prime Capital Investment Advisors LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $113,000. Jacobi Capital Management LLC boosted its holdings in shares of Starbucks by 6.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after purchasing an additional 129 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Starbucks during the 3rd quarter valued at about $111,000. Finally, Gradient Investments LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $117,000. Institutional investors and hedge funds own 73.52% of the company’s stock.
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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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