Starbucks (SBUX) Given “Outperform” Rating at Telsey Advisory Group

Starbucks (NASDAQ:SBUX)‘s stock had its “outperform” rating reissued by investment analysts at Telsey Advisory Group in a report released on Friday, Marketbeat.com reports. They currently have a $70.00 price objective on the coffee company’s stock, up from their previous price objective of $66.00. Telsey Advisory Group’s target price would indicate a potential upside of 14.27% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Mizuho set a $75.00 price target on Starbucks and gave the company a “buy” rating in a research report on Wednesday, November 1st. Deutsche Bank reissued a “buy” rating and set a $67.00 price target on shares of Starbucks in a research report on Monday, October 9th. Piper Jaffray Companies set a $70.00 target price on Starbucks and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 target price for the company. in a research report on Thursday, November 2nd. Finally, Nomura decreased their target price on Starbucks from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $63.54.

Starbucks (NASDAQ SBUX) traded up $0.17 during mid-day trading on Friday, reaching $61.26. The company’s stock had a trading volume of 8,252,794 shares, compared to its average volume of 7,810,000. 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. The stock has a market capitalization of $87,400.00, a P/E ratio of 31.10, a PEG ratio of 1.65 and a beta of 0.76.

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

In other news, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction that occurred 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 this hyperlink. Also, SVP Paul Mutty sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock worth $28,559,521 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in SBUX. Vanguard Group Inc. grew its holdings in Starbucks by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after buying an additional 1,953,003 shares in the last quarter. Capital World Investors grew its holdings in Starbucks by 2.0% in the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after buying an additional 895,432 shares in the last quarter. Northern Trust Corp grew its holdings in Starbucks by 5.2% in the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after buying an additional 1,060,298 shares in the last quarter. Capital International Investors grew its holdings in Starbucks by 28.3% in the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after buying an additional 4,696,452 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Starbucks by 12.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after buying an additional 1,809,166 shares in the last quarter. Institutional investors and hedge funds own 70.72% 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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