Oppenheimer Reaffirms “Buy” Rating for Starbucks (SBUX)

Starbucks (NASDAQ:SBUX)‘s stock had its “buy” rating reissued by equities research analysts at Oppenheimer in a report issued on Friday. They presently have a $66.00 price objective on the coffee company’s stock. Oppenheimer’s target price indicates a potential upside of 7.74% from the company’s current price.

Several other equities analysts also recently weighed in on SBUX. Stephens restated an “equal weight” rating and issued a $52.00 target price (down previously from $58.00) on shares of Starbucks in a research report on Friday, September 29th. They noted that the move was a valuation call. Mizuho restated a “buy” rating and issued a $75.00 target price on shares of Starbucks in a research report on Friday, September 29th. Stifel Nicolaus initiated coverage on Starbucks in a research report on Tuesday, October 3rd. They issued a “hold” rating and a $58.00 target price on the stock. Morgan Stanley restated an “overweight” rating and issued a $62.00 target price on shares of Starbucks in a research report on Wednesday, October 4th. Finally, BMO Capital Markets restated a “hold” rating on shares of Starbucks in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $63.54.

Starbucks (SBUX) traded up $0.17 during midday trading on Friday, hitting $61.26. The stock had a trading volume of 8,361,753 shares, compared to its average volume of 7,810,000. The stock has a market capitalization of $87,160.00, a P/E ratio of 31.10, a PEG ratio of 1.65 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 debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting 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 quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. research analysts forecast that Starbucks will post 2.37 EPS for the current fiscal year.

In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total transaction of $3,565,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Starbucks by 2.1% during the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after acquiring an additional 1,953,003 shares during the last quarter. Capital World Investors grew its stake in shares of Starbucks by 2.0% in the second quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after buying an additional 895,432 shares in the last quarter. Northern Trust Corp grew its stake in shares of Starbucks by 5.2% in the second quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after buying an additional 1,060,298 shares in the last quarter. Capital International Investors grew its stake in shares of Starbucks by 28.3% in the third quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after buying an additional 4,696,452 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Starbucks by 12.8% in the second quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock valued at $931,909,000 after buying an additional 1,809,166 shares in the last quarter. 70.72% 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.

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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