Starbucks (NASDAQ:SBUX) had its target price lifted by Morgan Stanley from $75.00 to $81.00 in a research note released on Thursday, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the coffee company’s stock.
Other analysts have also recently issued reports about the stock. Stifel Nicolaus reaffirmed a buy rating on shares of Canopy Growth in a research report on Wednesday, July 3rd. Barclays set a $46.00 price target on shares of D. R. Horton and gave the stock a buy rating in a research report on Friday, April 26th. BidaskClub cut shares of Extraction Oil & Gas from a hold rating to a sell rating in a research report on Saturday, May 4th. Zacks Investment Research raised shares of HAYS PLC/ADR from a sell rating to a hold rating in a research report on Tuesday, June 18th. Finally, Mizuho set a $75.00 price objective on shares of Starbucks and gave the stock a buy rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $79.95.
Shares of Starbucks stock opened at $90.30 on Thursday. The business’s fifty day simple moving average is $84.57. Starbucks has a twelve month low of $50.21 and a twelve month high of $91.61. The stock has a market cap of $109.37 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 2.53 and a beta of 0.55.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same period in the prior year, the company earned $0.53 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. On average, analysts predict that Starbucks will post 2.78 EPS for the current year.
In other news, EVP Lucy Lee Helm sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $83.00, for a total value of $830,000.00. Following the sale, the executive vice president now owns 113,455 shares in the company, valued at approximately $9,416,765. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $76.12, for a total transaction of $759,144.76. The disclosure for this sale can be found here. Insiders sold a total of 93,883 shares of company stock worth $7,422,903 in the last quarter. 3.98% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Lake Point Wealth Management acquired a new stake in shares of Starbucks in the 4th quarter valued at about $25,000. Cowen Prime Services LLC bought a new stake in shares of Starbucks during the 1st quarter valued at about $26,000. Paragon Capital Management LLC bought a new stake in shares of Starbucks during the 1st quarter valued at about $29,000. C J Advisory Inc bought a new stake in shares of Starbucks during the 1st quarter valued at about $34,000. Finally, Somerset Trust Co grew its position in shares of Starbucks by 159.2% during the 1st quarter. Somerset Trust Co now owns 819 shares of the coffee company’s stock valued at $61,000 after buying an additional 503 shares during the last quarter. Institutional investors and hedge funds own 71.66% of the company’s stock.
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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