Starbucks (NASDAQ:SBUX) Stock Rating Reaffirmed by Oppenheimer

Starbucks (NASDAQ:SBUX)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Oppenheimer in a research report issued to clients and investors on Friday, Benzinga reports.

A number of other brokerages also recently weighed in on SBUX. JPMorgan Chase & Co. dropped their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, March 19th. Wedbush reissued a “neutral” rating and set a $95.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. BMO Capital Markets dropped their price target on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. Jefferies Financial Group dropped their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Tuesday, January 16th. Fourteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $107.43.

Starbucks Stock Up 0.9 %

NASDAQ:SBUX traded up $0.79 on Friday, reaching $87.94. The stock had a trading volume of 3,482,560 shares, compared to its average volume of 8,341,360. The company has a market capitalization of $99.57 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. Starbucks has a 1-year low of $84.29 and a 1-year high of $115.48. The stock has a fifty day moving average price of $91.14 and a 200-day moving average price of $94.42.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts predict that Starbucks will post 4.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 7,250 shares of company stock valued at $653,183. 1.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Starbucks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its stake in shares of Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after buying an additional 1,281,471 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of Starbucks by 15.4% during the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after buying an additional 7,619 shares during the last quarter. Tyche Wealth Partners LLC acquired a new stake in shares of Starbucks during the 4th quarter worth about $794,000. Insigneo Advisory Services LLC lifted its stake in shares of Starbucks by 60.6% during the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after buying an additional 3,570 shares during the last quarter. Finally, Motco lifted its stake in shares of Starbucks by 1.1% during the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after buying an additional 811 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.