Goldman Sachs Maintains Starbucks Corporation to Buy with Price Target $69.00

Brokerage firm Goldman Sachs Maintains its rating on Starbucks Corporation(NASDAQ:SBUX). In a research note issued to the investors, the brokerage major Lowers the price-target to $69.00 per share. The shares have been rated Buy. The rating by Goldman Sachs was issued on Jul 22, 2016.

In a different note, On Jul 13, 2016, OTR Global said it Downgrades its rating on Starbucks Corporation. The shares have been rated ‘Mixed’ by the firm. On May 4, 2016, Goldman Sachs said it Maintains its rating on Starbucks Corporation. In the research note, the firm Raises the price-target to $69.00 per share. The shares have been rated ‘Buy’ by the firm.

Starbucks Corporation (SBUX) made into the market gainers list on Thursdays trading session with the shares advancing 0.62% or 0.36 points. Due to strong positive momentum, the stock ended at $58.21, which is also near the day’s high of $58.31. The stock began the session at $57.88 and the volume stood at 68,28,557 shares. The 52-week high of the shares is $64 and the 52 week low is $42.05. The company has a current market capitalization of $85,272 M and it has 1,46,49,00,000 shares in outstanding.

Starbucks Corporation(SBUX) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $5.24B. Analysts had an estimated revenue of $5.34B. Earnings per share were $0.49. Analysts had estimated an EPS of $0.49.

Several Insider Transactions has been reported to the SEC. On Jun 13, 2016, Myron E Iii Ullman (director) sold 20,000 shares at $55.46 per share price.Also, 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.

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