Starbucks (SBUX) Earns “Buy” Rating from Oppenheimer

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

Several other analysts also recently issued reports on SBUX. Telsey Advisory Group reissued an outperform rating and issued a $70.00 price target (up previously from $66.00) on shares of Starbucks in a report on Friday. Robert W. Baird cut their price target on Starbucks from $70.00 to $66.00 and set an outperform rating on the stock in a report on Friday, November 3rd. Mizuho restated a buy rating and issued a $75.00 target price on shares of Starbucks in a research report on Friday, September 29th. Piper Jaffray Companies restated a buy rating and issued a $70.00 target price on shares of Starbucks in a research report on Friday, January 5th. Finally, Barclays restated an equal weight rating and issued a $65.00 target price (up from $58.00) on shares of Starbucks in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $63.54.

Shares of Starbucks (SBUX) traded down $0.07 during midday trading on Friday, hitting $61.19. The company had a trading volume of 4,443,818 shares, compared to its average volume of 7,195,800. The company has a market cap of $87,130.00, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 1.66 and a beta of 0.76. 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.

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

In other news, Director Javier G. Teruel sold 62,966 shares of Starbucks stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Craig Weatherup sold 56,666 shares of Starbucks stock in a transaction on Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the transaction, the director now owns 56,666 shares in the company, valued at $3,214,662.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of SBUX. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Starbucks in the 3rd quarter worth $111,000. Jacobi Capital Management LLC grew its holdings in shares of Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after acquiring an additional 129 shares during the last quarter. Valley National Advisers Inc. grew its holdings in shares of Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after acquiring an additional 57 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Starbucks in the 2nd quarter worth $128,000. Finally, Horan Capital Advisors LLC. acquired a new position in shares of Starbucks in the 3rd quarter worth $131,000. Institutional investors own 70.76% of the company’s stock.

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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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