Piper Jaffray Companies Reaffirms Buy Rating for Starbucks (SBUX)

Piper Jaffray Companies reissued their buy rating on shares of Starbucks (NASDAQ:SBUX) in a research report released on Friday. Piper Jaffray Companies currently has a $70.00 target price on the coffee company’s stock.

Several other brokerages have also commented on SBUX. Vetr upgraded shares of Starbucks from a buy rating to a strong-buy rating and set a $64.12 target price on the stock in a research report on Tuesday, November 14th. Nomura decreased their target price on shares of Starbucks from $67.00 to $63.00 and set a buy rating on the stock in a research report on Friday, November 3rd. Tigress Financial initiated coverage on shares of Starbucks in a research report on Wednesday, December 27th. They set a buy rating on the stock. Mizuho restated a buy rating and set a $75.00 target price on shares of Starbucks in a research report on Friday, September 29th. Finally, Credit Suisse Group restated a buy rating on shares of Starbucks in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $63.23.

Starbucks (NASDAQ:SBUX) traded down $0.30 during trading hours on Friday, reaching $59.31. 6,335,782 shares of the company were exchanged, compared to its average volume of 8,480,000. Starbucks has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The stock has a market cap of $84,390.00, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 1.61 and a beta of 0.76.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 EPS. equities research analysts anticipate that Starbucks will post 2.34 earnings per share for the current year.

In other news, SVP Paul Mutty sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the completion of the transaction, the senior vice president now owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joshua Cooper Ramo sold 60,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 497,808 shares of company stock valued at $28,559,521. Corporate insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SBUX. Abner Herrman & Brock LLC purchased a new stake in shares of Starbucks during the 4th quarter worth about $215,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of Starbucks during the 4th quarter worth about $1,608,000. Washington Trust Bank grew its holdings in shares of Starbucks by 4.5% during the 4th quarter. Washington Trust Bank now owns 129,121 shares of the coffee company’s stock worth $7,415,000 after purchasing an additional 5,615 shares during the period. Neville Rodie & Shaw Inc. grew its holdings in shares of Starbucks by 22.7% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 5,400 shares of the coffee company’s stock worth $310,000 after purchasing an additional 1,000 shares during the period. Finally, Atlantic Trust Group LLC grew its holdings in shares of Starbucks by 1,244.8% during the 3rd quarter. Atlantic Trust Group LLC now owns 2,440,293 shares of the coffee company’s stock worth $131,068,000 after purchasing an additional 2,258,828 shares during the period. 70.67% of the stock is owned by institutional investors.

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Starbucks Company Profile

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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