Mizuho set a $75.00 price target on Starbucks (NASDAQ:SBUX) in a research note released on Thursday morning, TipRanks reports. The brokerage currently has a buy rating on the coffee company’s stock.
SBUX has been the subject of a number of other reports. Oppenheimer reaffirmed an outperform rating and set a $72.00 price target (up from $70.00) on shares of Starbucks in a research note on Friday, January 25th. KeyCorp set a $70.00 price target on Starbucks and gave the stock a buy rating in a research note on Friday, December 14th. BidaskClub downgraded Starbucks from a strong-buy rating to a buy rating in a research note on Monday, February 4th. CIBC raised their price objective on Starbucks from $70.00 to $72.00 and gave the company an outperform rating in a research note on Friday, January 25th. Finally, Zacks Investment Research raised Starbucks from a hold rating to a buy rating and set a $73.00 price objective on the stock in a research note on Monday, January 28th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks has an average rating of Buy and an average price target of $68.00.
Shares of SBUX traded up $0.78 during midday trading on Thursday, reaching $76.65. 5,193,473 shares of the stock were exchanged, compared to its average volume of 7,152,785. Starbucks has a 12-month low of $47.37 and a 12-month high of $76.95. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.41 and a quick ratio of 1.16. The company has a market capitalization of $94.35 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, January 24th. The coffee company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.10. Starbucks had a return on equity of 193.00% and a net margin of 11.98%. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.49 billion. During the same period last year, the business earned $0.65 EPS. The business’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities research analysts expect that Starbucks will post 2.72 earnings per share for the current fiscal year.
In other Starbucks news, insider Clifford Burrows sold 152,634 shares of Starbucks stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $67.22, for a total value of $10,260,057.48. Following the transaction, the insider now directly owns 311,083 shares of the company’s stock, valued at approximately $20,910,999.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Vivek C. Varma sold 73,242 shares of Starbucks stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $68.36, for a total value of $5,006,823.12. Following the completion of the transaction, the executive vice president now directly owns 140,882 shares in the company, valued at $9,630,693.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 565,806 shares of company stock worth $38,789,988. Company insiders own 3.98% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SBUX. Morgan Stanley grew its holdings in shares of Starbucks by 4.8% during the 3rd quarter. Morgan Stanley now owns 49,371,647 shares of the coffee company’s stock worth $2,806,283,000 after purchasing an additional 2,254,701 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Starbucks by 5,590.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock worth $368,000 after purchasing an additional 23,263,399 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Starbucks by 0.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,579,438 shares of the coffee company’s stock worth $874,515,000 after purchasing an additional 100,049 shares in the last quarter. Norges Bank acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $807,368,000. Finally, Legal & General Group Plc grew its holdings in shares of Starbucks by 1.4% during the 4th quarter. Legal & General Group Plc now owns 6,545,000 shares of the coffee company’s stock worth $421,405,000 after purchasing an additional 91,187 shares in the last quarter. 73.36% of the stock is currently owned by institutional investors.
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.
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