Starbucks Co. (SBUX) Given “Buy” Rating at BMO Capital Markets

BMO Capital Markets restated their buy rating on shares of Starbucks Co. (NASDAQ:SBUX) in a research report report published on Tuesday. The firm currently has a $62.00 price target on the coffee company’s stock.

Other equities research analysts have also recently issued research reports about the company. Vetr cut Starbucks from a strong-buy rating to a buy rating and set a $62.13 price objective for the company. in a research note on Wednesday, January 4th. Instinet reiterated a buy rating and issued a $70.00 price objective on shares of Starbucks in a research note on Tuesday, January 3rd. BTIG Research reiterated a buy rating and issued a $64.00 price objective on shares of Starbucks in a research note on Thursday, December 22nd. Jefferies Group LLC reiterated a buy rating and issued a $65.00 price objective on shares of Starbucks in a research note on Friday, December 9th. Finally, Edward Jones upgraded Starbucks from a hold rating to a buy rating in a research note on Tuesday, December 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $64.30.

Shares of Starbucks (NASDAQ:SBUX) traded up 0.5423% on Tuesday, reaching $60.4058. 3,923,098 shares of the company’s stock traded hands. The firm has a market capitalization of $88.04 billion, a P/E ratio of 30.9773 and a beta of 0.79. Starbucks has a 52 week low of $50.84 and a 52 week high of $60.58. The firm’s 50 day moving average is $56.93 and its 200 day moving average is $56.20.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, January 26th. The coffee company reported $0.52 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.52. Starbucks had a return on equity of 51.45% and a net margin of 13.30%. The company earned $5.70 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts expect that Starbucks will post $2.13 earnings per share for the current fiscal year.

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In related news, Director Joshua Cooper Ramo sold 5,868 shares of the stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $55.23, for a total transaction of $324,089.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.40% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of SBUX. Gradient Investments LLC raised its stake in shares of Starbucks by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock worth $109,000 after buying an additional 718 shares during the last quarter. Fusion Family Wealth LLC acquired a new stake in shares of Starbucks during the fourth quarter worth about $123,000. Cascade Investment Advisors Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth about $131,000. Quadrant Capital Group LLC raised its stake in shares of Starbucks by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 2,489 shares of the coffee company’s stock worth $137,000 after buying an additional 207 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its stake in shares of Starbucks by 186.0% in the third quarter. Cornerstone Advisors Inc. now owns 2,637 shares of the coffee company’s stock worth $143,000 after buying an additional 1,715 shares during the last quarter. 68.49% of the stock is currently owned by institutional investors and hedge funds.

About Starbucks

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.

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