Vetr downgraded shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a report released on Monday. The firm currently has $61.72 target price on the coffee company’s stock.
A number of other research analysts have also recently weighed in on SBUX. OTR Global upgraded Starbucks to a positive rating in a research report on Thursday, October 26th. Morgan Stanley raised their price target on Starbucks from $62.00 to $67.00 and gave the company an overweight rating in a research report on Friday, November 10th. Bank of America restated a neutral rating and issued a $65.00 price target on shares of Starbucks in a research report on Thursday, September 14th. Cowen restated an outperform rating and issued a $62.00 price target (down previously from $63.00) on shares of Starbucks in a research report on Tuesday, October 10th. Finally, Zacks Investment Research cut Starbucks from a hold rating to a sell rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $63.23.
Starbucks (NASDAQ:SBUX) opened at $60.00 on Monday. The stock has a market capitalization of $85,370.00, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.61 and a beta of 0.76. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. Starbucks has a 52-week low of $52.58 and a 52-week high of $64.87.
In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the sale, the director now directly owns 56,666 shares in the company, valued at $3,214,662.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of SBUX. Jacobi Capital Management LLC raised its holdings in shares of Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after purchasing an additional 129 shares during the period. IHT Wealth Management LLC raised its holdings in shares of Starbucks by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Starbucks in the 3rd quarter worth about $111,000. Valley National Advisers Inc. raised its holdings in shares of Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after purchasing an additional 57 shares during the period. Finally, Shine Investment Advisory Services Inc. purchased a new position in shares of Starbucks in the 2nd quarter worth about $128,000. 70.67% of the stock is currently owned by hedge funds and other institutional investors.
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Starbucks Company Profile
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
To view Vetr’s full report, visit Vetr’s official website.
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