Starbucks Corporation (SBUX) was Reiterated by RBC Capital Mkts to “Outperform” while Lowering the Price Target of the company shares to $ 64 from a previous price target of $68 . RBC Capital Mkts advised their investors in a research report released on Oct 19, 2016.
Many Wall Street Analysts have commented on Starbucks Corporation. Shares were Reiterated by Wedbush on Sep 28, 2016 to “Outperform” and Lowered the Price Target to $ 65 from a previous price target of $70 .Starbucks Corporation was Initiated by Longbow to “Buy” on Sep 21, 2016.
On the company’s financial health, Starbucks Corporation reported $0.39 EPS for the quarter, based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus estimate of $0.39. The company had revenue of $4993.00 million for the quarter, compared to analysts expectations of $5027.03 million. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.
Starbucks Corporation opened for trading at $53.12 and hit $53.37 on the upside on Friday, eventually ending the session at $53.08, with a gain of 0.25% or 0.13 points. The heightened volatility saw the trading volume jump to 64,30,136 shares. Company has a market cap of $77,847 M.
In a different news, on Jul 28, 2016, Myron E Iii Ullman (director) sold 12,654 shares at $58.70 per share price. According to the SEC, on May 31, 2016, William W Bradley (director) sold 12,654 shares at $55.34 per share price. On May 18, 2016, James G Jr Shennan (director) sold 50,000 shares at $55.57 per share price, according to the Form-4 filing with the securities and exchange commission.
Starbucks Corporation is the roaster marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells along with coffee tea and other beverages and a range of fresh food items through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels such as licensed stores grocery and national foodservice accounts. It operates through four segment: Americas which includes the United States Canada and Latin America; Europe Middle East and Africa (EMEA); China/Asia Pacific (CAP) and Channel Development. In addition to its Starbucks Coffee brand it also sells goods and services under the brands including Teavana Tazo Seattle’s Best Coffee Evolution Fresh La Boulange and Ethos. Its Americas EMEA and CAP segments include both Company-operated and licensed stores. The Americas and EMEA segments include certain foodservice accounts primarily in Canada and the United Kingdom.