Jefferies Financial Group Raises Starbucks (NASDAQ:SBUX) Price Target to $135.00

Starbucks (NASDAQ:SBUX) had its price objective upped by equities research analysts at Jefferies Financial Group from $118.00 to $135.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the coffee company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 16.66% from the stock’s previous close.

Several other equities analysts also recently commented on SBUX. BMO Capital Markets upped their price target on shares of Starbucks from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Citigroup increased their target price on shares of Starbucks from $111.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. Stephens increased their target price on shares of Starbucks from $115.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 28th. Stifel Nicolaus increased their target price on shares of Starbucks from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Monday, April 26th. Finally, Atlantic Securities assumed coverage on shares of Starbucks in a report on Tuesday, April 13th. They issued an “overweight” rating and a $128.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $120.80.

NASDAQ:SBUX opened at $115.72 on Tuesday. Starbucks has a 52 week low of $70.65 and a 52 week high of $118.98. The company has a market capitalization of $136.24 billion, a price-to-earnings ratio of 150.29, a PEG ratio of 2.67 and a beta of 0.82. The company has a 50-day moving average of $112.30 and a 200-day moving average of $103.39.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Monday, April 26th. The coffee company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.10. The firm had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.75 billion. Starbucks had a net margin of 3.95% and a negative return on equity of 18.07%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. As a group, equities research analysts predict that Starbucks will post 2.81 earnings per share for the current fiscal year.

In related news, CEO Kevin R. Johnson sold 170,000 shares of Starbucks stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $111.07, for a total value of $18,881,900.00. Following the completion of the sale, the chief executive officer now owns 515,934 shares of the company’s stock, valued at approximately $57,304,789.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Rachel A. Gonzalez sold 82,894 shares of Starbucks stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $109.50, for a total value of $9,076,893.00. Following the completion of the sale, the executive vice president now directly owns 78,905 shares of the company’s stock, valued at approximately $8,640,097.50. The disclosure for this sale can be found here. Insiders have sold a total of 406,184 shares of company stock worth $44,685,798 over the last quarter. Company insiders own 0.41% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SBUX. FMR LLC grew its holdings in Starbucks by 1.3% during the 4th quarter. FMR LLC now owns 20,416,742 shares of the coffee company’s stock valued at $2,184,183,000 after buying an additional 259,981 shares in the last quarter. Morgan Stanley grew its holdings in Starbucks by 6.9% during the 4th quarter. Morgan Stanley now owns 13,603,582 shares of the coffee company’s stock valued at $1,455,309,000 after buying an additional 881,073 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Starbucks by 2.0% during the 4th quarter. Wells Fargo & Company MN now owns 11,750,720 shares of the coffee company’s stock valued at $1,257,092,000 after buying an additional 230,070 shares in the last quarter. Norges Bank purchased a new position in Starbucks during the 4th quarter valued at about $1,244,400,000. Finally, Fundsmith LLP grew its holdings in Starbucks by 0.6% during the 4th quarter. Fundsmith LLP now owns 10,441,081 shares of the coffee company’s stock valued at $1,116,987,000 after buying an additional 58,866 shares in the last quarter. 67.27% of the stock is owned by institutional investors.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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