Starbucks Corp. (NASDAQ:SBUX) shares traded 2.04% higher at $75.37 on Wall Street last session.
SBUX stock price is now -2.79% away from the 50-day moving average and -14.89% away from the 200-day moving average. The market capitalization of the company currently stands at $85.41B.
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With the price target reduced from $92 to $80, Evercore ISI Downgraded its rating from Outperform to In-line for Starbucks Corp. (NASDAQ: SBUX). On July 12, 2024, Morgan Stanley reiterated its ‘Overweight’ rating on the stock by increasing its target price from $104 to quote $98, while ‘JP Morgan’ rates the stock as ‘Overweight’
In other news, Conway Michael Aaron, ceo, North America sold 3,250 shares of the company’s stock on Jun 14 ’24. The stock was sold for $260,000 at an average price of $80.00. Upon completion of the transaction, the ceo, North America now directly owns 78,304 shares in the company, valued at $5.9 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 22 ’24, evp, cfo Ruggeri Rachel sold 3,750 shares of the business’s stock. A total of $300,000 was realized by selling the stock at an average price of $80.00. This leaves the insider owning 65,431 shares of the company worth $4.93 million. A total of 2.07% of the company’s stock is owned by insiders.
During the past 12 months, Starbucks Corp. has had a low of $71.55 and a high of $107.66. According to the stock market information, the enterprise value for the company is $105642049536, which is based on a 21.12 price-to-earnings ratio, a 2.74 price-to-earnings-growth ratio, and a beta of 0.94. The fifty day moving average price for SBUX is $77.4706 and a two-hundred day moving average price translates $88.4631 for the stock.
The latest earnings results from Starbucks Corp. (NASDAQ: SBUX) was released for 2024-06-30. The company reported revenue of $9.11 billion for the quarter, compared to $9.17 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.59 percent. For the current quarter, analysts expect SBUX to generate $9.41B in revenue.
