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

Starbucks (NASDAQ:SBUX) had its price target lifted by Oppenheimer from $82.00 to $95.00 in a report issued on Thursday, The Fly reports. The firm currently has 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.

Other equities analysts also recently issued research reports about the company. Credit Suisse Group started coverage on Arco Platform in a research report on Tuesday, June 25th. They issued a neutral rating on the stock. BidaskClub downgraded Extraction Oil & Gas from a hold rating to a sell rating in a research report on Saturday, May 4th. UBS Group set a $74.00 target price on Bayerische Motoren Werke and gave the company a hold rating in a research report on Monday, April 8th. Mizuho set a $75.00 target price on Starbucks and gave the company a buy rating in a research report on Thursday, April 11th. Finally, Telsey Advisory Group restated a market perform rating and issued a $80.00 target price (up previously from $70.00) on shares of Starbucks in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $79.36.

NASDAQ SBUX opened at $89.77 on Thursday. The stock has a market capitalization of $108.73 billion, a P/E ratio of 37.10, a PEG ratio of 2.51 and a beta of 0.55. The firm has a 50 day moving average price of $82.58. Starbucks has a 1-year low of $50.21 and a 1-year high of $89.82.

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

In related news, insider John Culver sold 63,937 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $76.12, for a total value of $759,144.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,883 shares of company stock valued at $7,422,903. Insiders own 3.98% of the company’s stock.

Several large investors have recently bought and sold shares of SBUX. Norges Bank acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $807,368,000. Two Sigma Advisers LP acquired a new stake in Starbucks during the fourth quarter worth $352,796,000. FMR LLC increased its stake in Starbucks by 19.8% during the first quarter. FMR LLC now owns 10,424,208 shares of the coffee company’s stock worth $774,936,000 after acquiring an additional 1,720,231 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Starbucks by 432.2% during the first quarter. Assenagon Asset Management S.A. now owns 901,772 shares of the coffee company’s stock worth $67,038,000 after acquiring an additional 1,173,260 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in Starbucks by 55.2% during the fourth quarter. Bahl & Gaynor Inc. now owns 2,638,648 shares of the coffee company’s stock worth $169,929,000 after acquiring an additional 938,163 shares during the last quarter. 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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