Telsey Advisory Group Reaffirms “Outperform” Rating for Starbucks (SBUX)
Starbucks (NASDAQ:SBUX)‘s stock had its “outperform” rating reissued by stock analysts at Telsey Advisory Group in a research report issued on Friday. They currently have a $70.00 price target on the coffee company’s stock, up from their previous price target of $66.00. Telsey Advisory Group’s target price would indicate a potential upside of 14.59% from the company’s current price.
SBUX has been the subject of several other reports. Credit Suisse Group cut their target price on shares of Starbucks from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Deutsche Bank reaffirmed a “buy” rating and set a $67.00 target price on shares of Starbucks in a report on Monday, October 9th. OTR Global raised shares of Starbucks to a “positive” rating in a report on Thursday, October 26th. BMO Capital Markets reaffirmed a “hold” rating on shares of Starbucks in a report on Thursday, October 5th. Finally, Vetr lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.32 target price for the company. in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $63.50.
Starbucks (NASDAQ:SBUX) opened at $61.09 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. The firm has a market cap of $86,307.05, a P/E ratio of 31.01, a PEG ratio of 1.65 and a beta of 0.75. Starbucks has a 1-year low of $52.58 and a 1-year high of $64.87.
In other Starbucks news, SVP Paul Mutty sold 3,000 shares of Starbucks stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Javier G. Teruel sold 62,966 shares of Starbucks stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Saratoga Research & Investment Management boosted its stake in Starbucks by 8.1% during the 4th quarter. Saratoga Research & Investment Management now owns 413,840 shares of the coffee company’s stock worth $23,767,000 after purchasing an additional 31,035 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Starbucks by 812.4% during the 4th quarter. State of Alaska Department of Revenue now owns 152,806 shares of the coffee company’s stock worth $8,774,000 after acquiring an additional 136,058 shares during the period. Oakbrook Investments LLC raised its holdings in shares of Starbucks by 26.1% during the 4th quarter. Oakbrook Investments LLC now owns 597,439 shares of the coffee company’s stock worth $34,311,000 after acquiring an additional 123,513 shares during the period. Butensky & Cohen Financial Security Inc. raised its holdings in shares of Starbucks by 3.2% during the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 35,245 shares of the coffee company’s stock worth $2,024,000 after acquiring an additional 1,095 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in shares of Starbucks during the 4th quarter worth $1,259,000. 70.72% of the stock is currently owned by institutional investors.
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Starbucks Company Profile
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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