Analysts Set Starbucks Co. (SBUX) Target Price at $64.45

Starbucks Co. (NASDAQ:SBUX) has been given an average recommendation of “Buy” by the thirty-two ratings firms that are covering the stock, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $64.45.

Several equities research analysts recently issued reports on SBUX shares. Zacks Investment Research lowered Starbucks from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Oppenheimer restated a “buy” rating and set a $66.00 price target on shares of Starbucks in a research report on Friday, January 19th. Wedbush restated a “buy” rating and set a $70.00 price target on shares of Starbucks in a research report on Monday, January 22nd. They noted that the move was a valuation call. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price target (up previously from $66.00) on shares of Starbucks in a research report on Friday, January 19th. Finally, William Blair restated an “outperform” rating on shares of Starbucks in a research report on Friday, January 26th.

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In other news, insider Clifford Burrows sold 162,826 shares of Starbucks stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total value of $9,284,338.52. Following the transaction, the insider now owns 331,829 shares in the company, valued at $18,920,889.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Myron E. Ullman III sold 25,000 shares of Starbucks stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.52, for a total value of $1,363,000.00. Following the completion of the transaction, the director now owns 39,000 shares in the company, valued at approximately $2,126,280. The disclosure for this sale can be found here. In the last quarter, insiders sold 247,664 shares of company stock worth $14,243,602. Company insiders own 3.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Magellan Asset Management Ltd increased its holdings in Starbucks by 18.1% during the 4th quarter. Magellan Asset Management Ltd now owns 30,912,781 shares of the coffee company’s stock valued at $1,775,321,000 after purchasing an additional 4,744,675 shares during the period. Bank of New York Mellon Corp increased its holdings in Starbucks by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 30,728,508 shares of the coffee company’s stock valued at $1,764,739,000 after purchasing an additional 1,210,393 shares during the period. Capital International Investors increased its holdings in Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after purchasing an additional 4,696,452 shares during the period. Geode Capital Management LLC increased its holdings in Starbucks by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 17,008,111 shares of the coffee company’s stock valued at $974,952,000 after purchasing an additional 319,533 shares during the period. Finally, Polen Capital Management LLC increased its holdings in Starbucks by 1.1% during the 4th quarter. Polen Capital Management LLC now owns 11,873,272 shares of the coffee company’s stock valued at $681,882,000 after purchasing an additional 124,676 shares during the period. Hedge funds and other institutional investors own 73.47% of the company’s stock.

NASDAQ:SBUX opened at $58.00 on Wednesday. The firm has a market cap of $83,239.63, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 1.64 and a beta of 0.64. Starbucks has a 52-week low of $52.58 and a 52-week high of $64.87. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 0.81.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion during the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. equities research analysts anticipate that Starbucks will post 2.49 EPS for the current year.

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

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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