Starbucks (NASDAQ:SBUX) Earns In-Line Rating from Analysts at Evercore ISI

Analysts at Evercore ISI initiated coverage on shares of Starbucks (NASDAQ:SBUX) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set an “in-line” rating and a $82.00 price target on the coffee company’s stock. Evercore ISI’s price target would suggest a potential downside of 1.12% from the stock’s previous close.

SBUX has been the subject of several other reports. Piper Jaffray Companies boosted their price objective on Starbucks from $70.00 to $77.00 and gave the company a “positive” rating in a report on Friday, April 26th. Mizuho set a $75.00 price objective on Starbucks and gave the company a “buy” rating in a report on Thursday, April 11th. BidaskClub raised Starbucks from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Stephens boosted their price objective on Starbucks from $65.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Starbucks from $70.00 to $81.00 and gave the company an “overweight” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $74.37.

Shares of Starbucks stock opened at $82.93 on Tuesday. The company has a debt-to-equity ratio of 7.73, a current ratio of 0.94 and a quick ratio of 0.67. The stock has a market capitalization of $99.90 billion, a P/E ratio of 34.27, a PEG ratio of 2.31 and a beta of 0.50. Starbucks has a fifty-two week low of $47.37 and a fifty-two week high of $83.67.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, April 25th. The coffee company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.33 billion. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. Starbucks’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. Equities research analysts anticipate that Starbucks will post 2.78 earnings per share for the current fiscal year.

In other Starbucks news, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $76.12, for a total transaction of $759,144.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Culver sold 63,937 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $78.04, for a total transaction of $4,989,643.48. The disclosure for this sale can be found here. 3.98% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Community Bank N.A. grew its holdings in shares of Starbucks by 2.1% during the 1st quarter. Community Bank N.A. now owns 6,783 shares of the coffee company’s stock valued at $504,000 after acquiring an additional 140 shares in the last quarter. Kistler Tiffany Companies LLC grew its holdings in shares of Starbucks by 1.5% during the 1st quarter. Kistler Tiffany Companies LLC now owns 9,461 shares of the coffee company’s stock valued at $703,000 after acquiring an additional 142 shares in the last quarter. Crawford Investment Counsel Inc. grew its holdings in shares of Starbucks by 1.1% during the 1st quarter. Crawford Investment Counsel Inc. now owns 12,631 shares of the coffee company’s stock valued at $939,000 after acquiring an additional 142 shares in the last quarter. Lucia Wealth Services LLC grew its holdings in shares of Starbucks by 9.6% during the 1st quarter. Lucia Wealth Services LLC now owns 1,655 shares of the coffee company’s stock valued at $123,000 after acquiring an additional 145 shares in the last quarter. Finally, Orrstown Financial Services Inc. grew its holdings in shares of Starbucks by 1.2% during the 1st quarter. Orrstown Financial Services Inc. now owns 12,844 shares of the coffee company’s stock valued at $955,000 after acquiring an additional 147 shares in the last quarter. 71.67% of the stock is currently owned by institutional investors.

About Starbucks

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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Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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