Starbucks (NASDAQ:SBUX) Earns Buy Rating from Piper Jaffray Companies

Piper Jaffray Companies reaffirmed their buy rating on shares of Starbucks (NASDAQ:SBUX) in a report published on Friday, January 26th. They currently have a $70.00 price objective on the coffee company’s stock.

SBUX has been the topic of a number of other research reports. UBS Group lowered their target price on Starbucks from $67.00 to $64.00 and set a buy rating on the stock in a report on Friday, November 3rd. Mizuho set a $75.00 target price on Starbucks and gave the company a buy rating in a report on Wednesday, November 1st. Morgan Stanley increased their target price on Starbucks from $62.00 to $67.00 and gave the company an overweight rating in a report on Friday, November 10th. Vetr cut Starbucks from a strong-buy rating to a buy rating and set a $60.91 price target for the company. in a research report on Thursday, November 2nd. Finally, Oppenheimer restated a buy rating and issued a $66.00 price target on shares of Starbucks in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Starbucks has an average rating of Buy and a consensus target price of $64.63.

Shares of Starbucks (SBUX) traded up $0.81 during mid-day trading on Friday, reaching $54.58. The company had a trading volume of 18,304,362 shares, compared to its average volume of 12,250,000. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. Starbucks has a 12 month low of $52.58 and a 12 month high of $64.87. The stock has a market capitalization of $77,660.00, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.51 and a beta of 0.70.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. equities research analysts predict that Starbucks will post 2.49 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, February 8th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, February 7th. Starbucks’s payout ratio is presently 39.60%.

In other news, insider Clifford Burrows sold 162,826 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the sale, the insider now directly owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 29,872,564 shares of the company’s stock, valued at $1,703,632,324.92. The disclosure for this sale can be found here. Insiders sold a total of 597,668 shares of company stock valued at $34,216,388 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Several hedge funds have recently modified their holdings of SBUX. Taylor Hoffman Wealth Management purchased a new position in Starbucks during the 4th quarter worth $107,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in Starbucks during the 3rd quarter worth $111,000. Jacobi Capital Management LLC increased its holdings in Starbucks by 6.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after purchasing an additional 129 shares during the period. Gradient Investments LLC purchased a new position in Starbucks during the 4th quarter worth $117,000. Finally, Valley National Advisers Inc. increased its holdings in Starbucks by 2.8% during the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after purchasing an additional 57 shares during the period. 71.87% of the stock is owned by hedge funds and other institutional investors.

WARNING: This story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another domain, it was stolen and reposted in violation of United States and international trademark and copyright laws. The original version of this story can be accessed at https://ledgergazette.com/2018/02/11/starbucks-sbux-buy-rating-reaffirmed-at-piper-jaffray-companies.html.

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)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply