Starbucks (SBUX) Price Target Raised to $89.00 at Jefferies Financial Group

Starbucks (NASDAQ:SBUX) had its target price raised by Jefferies Financial Group from $76.00 to $89.00 in a research note released on Thursday morning, The Fly reports. They currently have a buy rating on the coffee company’s stock. Jefferies Financial Group also issued estimates for Starbucks’ Q3 2019 earnings at $0.72 EPS, FY2019 earnings at $2.73 EPS and FY2020 earnings at $3.08 EPS.

Several other equities research analysts also recently commented on SBUX. Mizuho set a $75.00 target price on shares of Starbucks and gave the company a buy rating in a research note on Thursday, April 11th. Oppenheimer boosted their target price on shares of Starbucks from $72.00 to $81.00 and gave the company an outperform rating in a research note on Thursday. Piper Jaffray Companies boosted their target price on shares of Starbucks from $60.00 to $70.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. BidaskClub downgraded shares of Starbucks from a strong-buy rating to a buy rating in a research note on Thursday. Finally, Wedbush restated a hold rating and issued a $70.00 target price on shares of Starbucks in a research note on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $69.08.

Shares of Starbucks stock opened at $76.06 on Thursday. The firm has a market capitalization of $94.59 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 2.18 and a beta of 0.51. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.16 and a current ratio of 1.41. Starbucks has a 52-week low of $47.37 and a 52-week high of $76.95.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, January 24th. The coffee company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.10. The firm had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.49 billion. Starbucks had a net margin of 11.98% and a return on equity of 193.00%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. Analysts expect that Starbucks will post 2.72 EPS for the current fiscal year.

In related news, EVP Vivek C. Varma sold 73,242 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $68.36, for a total transaction of $5,006,823.12. Following the transaction, the executive vice president now owns 140,882 shares in the company, valued at approximately $9,630,693.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Clifford Burrows sold 152,634 shares of the company’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $67.22, for a total transaction of $10,260,057.48. Following the transaction, the insider now owns 311,083 shares in the company, valued at approximately $20,910,999.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 565,806 shares of company stock worth $38,789,988. 3.98% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kistler Tiffany Companies LLC lifted its position in Starbucks by 1.5% during the 1st quarter. Kistler Tiffany Companies LLC now owns 9,461 shares of the coffee company’s stock valued at $703,000 after purchasing an additional 142 shares during the period. Orrstown Financial Services Inc. lifted its position in Starbucks by 1.2% during the 1st quarter. Orrstown Financial Services Inc. now owns 12,844 shares of the coffee company’s stock valued at $955,000 after purchasing an additional 147 shares during the period. Gardiner Nancy B lifted its position in Starbucks by 2.8% during the 4th quarter. Gardiner Nancy B now owns 5,700 shares of the coffee company’s stock valued at $367,000 after purchasing an additional 156 shares during the period. Old North State Trust LLC lifted its position in Starbucks by 20.6% during the 1st quarter. Old North State Trust LLC now owns 991 shares of the coffee company’s stock valued at $73,000 after purchasing an additional 169 shares during the period. Finally, Tiemann Investment Advisors LLC lifted its position in Starbucks by 3.5% during the 4th quarter. Tiemann Investment Advisors LLC now owns 5,160 shares of the coffee company’s stock valued at $332,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Starbucks Company Profile

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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Read More: What are trading strategies for the 52-week high/low?

The Fly

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.