Oppenheimer Reaffirms Buy Rating for Starbucks (SBUX)

Oppenheimer restated their buy rating on shares of Starbucks (NASDAQ:SBUX) in a research report released on Friday. Oppenheimer currently has a $66.00 price target on the coffee company’s stock.

A number of other equities analysts have also recently commented on SBUX. Vetr raised shares of Starbucks from a buy rating to a strong-buy rating and set a $64.12 target price on the stock in a report on Tuesday, November 14th. Nomura cut their target price on shares of Starbucks from $67.00 to $63.00 and set a buy rating on the stock in a report on Friday, November 3rd. Tigress Financial began coverage on shares of Starbucks in a report on Wednesday, December 27th. They issued a buy rating on the stock. Mizuho reaffirmed a buy rating and issued a $75.00 target price on shares of Starbucks in a report on Friday, September 29th. Finally, Credit Suisse Group reaffirmed a buy rating on shares of Starbucks in a report on Monday, November 6th. One equities research 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 stock. The stock currently has a consensus rating of Buy and an average price target of $63.54.

Starbucks (NASDAQ:SBUX) traded up $0.17 during mid-day trading on Friday, reaching $61.26. 8,252,794 shares of the company’s stock were exchanged, compared to its average volume of 7,810,000. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Starbucks has a 12 month low of $52.58 and a 12 month high of $64.87. The firm has a market capitalization of $87,400.00, a PE ratio of 31.10, a P/E/G ratio of 1.65 and a beta of 0.76.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. equities analysts predict that Starbucks will post 2.38 EPS for the current year.

In other news, Director Craig Weatherup sold 56,666 shares of Starbucks stock in a transaction on Monday, November 20th. The stock was sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the completion of the transaction, the director now owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joshua Cooper Ramo sold 60,000 shares of Starbucks stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 497,808 shares of company stock valued at $28,559,521 in the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SBUX. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Starbucks during the 3rd quarter worth $111,000. Jacobi Capital Management LLC raised its stake in Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after purchasing an additional 129 shares during the last quarter. Valley National Advisers Inc. raised its stake in Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after purchasing an additional 57 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Starbucks in the 2nd quarter valued at about $128,000. Finally, Horan Capital Advisors LLC. acquired a new position in Starbucks in the 3rd quarter valued at about $131,000. 70.72% of the stock is owned by institutional investors and hedge funds.

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About Starbucks

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.

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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