Starbucks (SBUX) Earns “Buy” Rating from Oppenheimer
Oppenheimer reaffirmed their buy rating on shares of Starbucks (NASDAQ:SBUX) in a research report report published on Friday. Oppenheimer currently has a $66.00 price objective on the coffee company’s stock.
A number of other research firms have also recently issued reports on SBUX. Vetr raised Starbucks from a buy rating to a strong-buy rating and set a $64.12 price objective for the company in a research report on Tuesday, November 14th. Nomura reduced their price objective on Starbucks from $67.00 to $63.00 and set a buy rating for the company in a research report on Friday, November 3rd. Tigress Financial started coverage on Starbucks in a research report on Wednesday, December 27th. They set a buy rating for the company. Mizuho reissued a buy rating and set a $75.00 price objective on shares of Starbucks in a research report on Friday, September 29th. Finally, Credit Suisse Group reissued a buy rating on shares of Starbucks in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $63.54.
Shares of Starbucks (NASDAQ SBUX) traded down $0.07 during trading on Friday, hitting $61.19. The stock had a trading volume of 4,443,818 shares, compared to its average volume of 7,195,800. The firm has a market capitalization of $87,130.00, a PE ratio of 31.06, a PEG ratio of 1.66 and a beta of 0.76. 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 1-year low of $52.58 and a 1-year high of $64.87.
In other news, Director Craig Weatherup sold 56,666 shares of Starbucks stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the transaction, the director now directly owns 56,666 shares in the company, valued at $3,214,662.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of Starbucks stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total value of $16,548,737.28. Following the completion of the transaction, the insider now owns 29,872,564 shares in the company, valued at $1,703,632,324.92. The disclosure for this sale can be found here. Insiders sold 497,808 shares of company stock valued at $28,559,521 in the last ninety days. Insiders own 3.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Financial Group Inc. bought a new position in Starbucks during the third quarter valued at about $111,000. Jacobi Capital Management LLC increased its stake in Starbucks by 6.9% during the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after acquiring an additional 129 shares during the period. Valley National Advisers Inc. increased its stake in Starbucks by 2.8% during the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after acquiring an additional 57 shares during the period. Shine Investment Advisory Services Inc. bought a new position in Starbucks during the second quarter valued at about $128,000. Finally, Horan Capital Advisors LLC. bought a new position in Starbucks during the third quarter valued at about $131,000. Institutional investors and hedge funds own 70.76% of the company’s stock.
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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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