Starbucks (SBUX) Given “Buy” Rating at Piper Jaffray Companies

Starbucks (NASDAQ:SBUX)‘s stock had its “buy” rating restated by Piper Jaffray Companies in a research note issued on Friday, January 5th. They currently have a $70.00 price target on the coffee company’s stock. Piper Jaffray Companies’ price target points to a potential upside of 22.40% from the company’s previous close.

A number of other equities research analysts have also commented on SBUX. Bank of America reiterated a “neutral” rating and issued a $65.00 target price on shares of Starbucks in a research report on Thursday, September 14th. Stephens reissued an “equal weight” rating and issued a $52.00 price target (down from $58.00) on shares of Starbucks in a report on Friday, September 29th. They noted that the move was a valuation call. Mizuho reissued a “buy” rating and issued a $75.00 price target on shares of Starbucks in a report on Friday, September 29th. Stifel Nicolaus initiated coverage on Starbucks in a research note on Tuesday, October 3rd. They set a “hold” rating and a $58.00 target price for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $62.00 target price on shares of Starbucks in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $64.32.

Starbucks (NASDAQ SBUX) opened at $57.19 on Friday. Starbucks has a 52 week low of $52.58 and a 52 week high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $80,131.01, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.58 and a beta of 0.75.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Starbucks had a return on equity of 56.65% and a net margin of 19.28%. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. equities research analysts expect that Starbucks will post 2.49 EPS for the current fiscal year.

In other news, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is accessible through the SEC website. Also, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction dated 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 directly owns 10,438 shares in the company, valued at approximately $594,444.10. The disclosure for this sale can be found here. Insiders have sold a total of 497,808 shares of company stock worth $28,559,521 in the last three months. Corporate insiders own 3.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SBUX. Magellan Asset Management Ltd grew its stake in shares of Starbucks by 3,809,645.9% in the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Starbucks by 3,076.5% in the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after purchasing an additional 13,452,551 shares during the last quarter. Parnassus Investments CA purchased a new position in shares of Starbucks in the 3rd quarter valued at approximately $498,863,000. Capital International Investors grew its stake in shares of Starbucks by 28.3% in the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after purchasing an additional 4,696,452 shares during the last quarter. Finally, Harding Loevner LP purchased a new position in shares of Starbucks in the 3rd quarter valued at approximately $128,044,000. Hedge funds and other institutional investors own 70.89% 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.

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