Oppenheimer Raises Starbucks (NASDAQ:SBUX) Price Target to $95.00

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Starbucks (NASDAQ:SBUX) had its price target hoisted by Oppenheimer from $82.00 to $95.00 in a research note published on Thursday, The Fly reports. They currently have an outperform rating on the coffee company’s stock. Oppenheimer also issued estimates for Starbucks’ Q3 2019 earnings at $0.73 EPS, FY2019 earnings at $2.79 EPS and FY2020 earnings at $3.14 EPS.

Several other brokerages have also recently weighed in on SBUX. Zacks Investment Research upgraded HAYS PLC/ADR from a sell rating to a hold rating in a report on Tuesday, June 18th. Mizuho set a $75.00 target price on Starbucks and gave the stock a buy rating in a report on Thursday, April 11th. BidaskClub cut Extraction Oil & Gas from a hold rating to a sell rating in a report on Saturday, May 4th. Stifel Nicolaus reiterated a buy rating on shares of Canopy Growth in a report on Wednesday, July 3rd. Finally, Telsey Advisory Group reiterated a market perform rating and issued a $80.00 target price (up from $70.00) on shares of Starbucks in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Starbucks presently has a consensus rating of Buy and a consensus price target of $79.36.

SBUX opened at $89.77 on Thursday. The firm’s fifty day simple moving average is $82.58. Starbucks has a 52-week low of $50.21 and a 52-week high of $89.82. The stock has a market cap of $108.73 billion, a PE ratio of 37.10, a P/E/G ratio of 2.51 and a beta of 0.55.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, April 25th. The coffee company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The company had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter in the previous year, the business earned $0.53 EPS. Starbucks’s revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts anticipate that Starbucks will post 2.78 EPS for the current fiscal year.

In other news, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $84.64, for a total value of $844,114.72. Following the completion of the transaction, the director now directly owns 28,390 shares of the company’s stock, valued at approximately $2,402,929.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Culver sold 63,937 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $78.04, for a total value of $4,989,643.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,883 shares of company stock valued at $7,422,903. Corporate insiders own 3.98% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Community Bank N.A. increased its position in Starbucks by 2.1% during the 1st quarter. Community Bank N.A. now owns 6,783 shares of the coffee company’s stock valued at $504,000 after buying an additional 140 shares in the last quarter. Kistler Tiffany Companies LLC increased 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 buying an additional 142 shares in the last quarter. Orrstown Financial Services Inc. increased 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 buying an additional 147 shares in the last quarter. Shamrock Asset Management LLC increased its position in Starbucks by 2.0% during the 1st quarter. Shamrock Asset Management LLC now owns 8,230 shares of the coffee company’s stock valued at $612,000 after buying an additional 162 shares in the last quarter. Finally, Pinnacle Bank increased its holdings in shares of Starbucks by 3.4% in the second quarter. Pinnacle Bank now owns 5,077 shares of the coffee company’s stock valued at $426,000 after purchasing an additional 165 shares during the period. 71.60% 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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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