Starbucks (SBUX) Rating Reiterated by Jefferies Financial Group

Starbucks (NASDAQ:SBUX)‘s stock had its “buy” rating reaffirmed by Jefferies Financial Group in a research report issued on Friday, The Fly reports. They currently have a $66.00 price objective on the coffee company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 2.61% from the stock’s current price. Jefferies Financial Group also issued estimates for Starbucks’ Q1 2019 earnings at $0.66 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.71 EPS, Q4 2019 earnings at $0.70 EPS, FY2019 earnings at $2.63 EPS and FY2020 earnings at $3.05 EPS.

A number of other brokerages have also issued reports on SBUX. Wedbush cut their price target on shares of Starbucks from $54.00 to $53.00 and set a “neutral” rating on the stock in a research note on Friday, July 27th. BidaskClub downgraded Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. UBS Group set a $72.00 price objective on Starbucks and gave the stock a “buy” rating in a research report on Friday. Barclays lowered their price objective on Starbucks from $60.00 to $57.00 and set a “$51.15” rating for the company in a research report on Wednesday, July 18th. Finally, Zacks Investment Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $62.75.

NASDAQ:SBUX traded up $5.69 on Friday, reaching $64.32. 45,466,436 shares of the company’s stock were exchanged, compared to its average volume of 13,111,073. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a market capitalization of $86.77 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48. Starbucks has a 52-week low of $47.37 and a 52-week high of $65.68.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.28 billion. Starbucks had a net margin of 18.28% and a return on equity of 70.00%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. Analysts expect that Starbucks will post 2.64 EPS for the current fiscal year.

In related news, Director Myron E. Ullman III sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $53.98, for a total value of $809,700.00. Following the completion of the transaction, the director now directly owns 29,000 shares of the company’s stock, valued at $1,565,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 99,166 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total value of $5,459,088.30. Following the completion of the transaction, the director now directly owns 29,000 shares of the company’s stock, valued at $1,596,450. The disclosure for this sale can be found here. Insiders sold 280,832 shares of company stock valued at $15,052,087 over the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Natixis acquired a new stake in shares of Starbucks in the second quarter valued at approximately $36,083,000. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Starbucks by 115.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 697,709 shares of the coffee company’s stock valued at $34,083,000 after acquiring an additional 373,651 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Starbucks in the second quarter valued at approximately $115,000. MAI Capital Management boosted its holdings in shares of Starbucks by 14.9% in the second quarter. MAI Capital Management now owns 20,472 shares of the coffee company’s stock valued at $1,000,000 after acquiring an additional 2,650 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its holdings in shares of Starbucks by 8.8% in the third quarter. Nikko Asset Management Americas Inc. now owns 878,442 shares of the coffee company’s stock valued at $49,281,000 after acquiring an additional 71,411 shares during the period. 71.86% of the stock is owned by hedge funds and other institutional investors.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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