Mizuho Reiterates “$75.00” Price Target for Starbucks (SBUX)

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Starbucks (NASDAQ:SBUX) received a $75.00 price target from analysts at Mizuho in a report released on Thursday, TipRanks reports. The brokerage currently has a “buy” rating on the coffee company’s stock. Mizuho’s target price would indicate a potential downside of 2.15% from the stock’s current price.

A number of other analysts have also recently weighed in on SBUX. Zacks Investment Research raised Starbucks from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Monday, January 28th. BidaskClub cut Starbucks from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 12th. BMO Capital Markets raised their price objective on Starbucks to $63.00 and gave the stock a “market perform” rating in a research report on Friday, December 14th. They noted that the move was a valuation call. UBS Group cut Starbucks from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $72.00 to $78.00 in a research report on Monday, April 8th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $73.00 price objective (up previously from $66.00) on shares of Starbucks in a research report on Friday, December 14th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Starbucks presently has an average rating of “Buy” and a consensus price target of $68.00.

Shares of Starbucks stock traded up $0.78 during trading on Thursday, reaching $76.65. The company’s stock had a trading volume of 5,193,473 shares, compared to its average volume of 7,152,785. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.41 and a quick ratio of 1.16. The stock has a market capitalization of $94.35 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.17 and a beta of 0.51. Starbucks has a 1-year low of $47.37 and a 1-year high of $76.95.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, January 24th. The coffee company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.10. The firm had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.49 billion. Starbucks had a return on equity of 193.00% and a net margin of 11.98%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. On average, equities research analysts anticipate that Starbucks will post 2.72 earnings per share for the current fiscal year.

In related news, insider Clifford Burrows sold 152,634 shares of the firm’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $67.22, for a total value of $10,260,057.48. Following the completion of the transaction, the insider now owns 311,083 shares in the company, valued at approximately $20,910,999.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vivek C. Varma sold 70,364 shares of the firm’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $70.05, for a total value of $4,928,998.20. Following the completion of the transaction, the executive vice president now owns 138,004 shares of the company’s stock, valued at approximately $9,667,180.20. The disclosure for this sale can be found here. Insiders sold a total of 565,806 shares of company stock valued at $38,789,988 in the last 90 days. 3.98% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBUX. Lake Point Wealth Management purchased a new position in shares of Starbucks during the 4th quarter valued at about $25,000. Highwater Wealth Management LLC purchased a new position in shares of Starbucks during the 4th quarter valued at about $28,000. Veritas Investment Management LLP purchased a new position in shares of Starbucks during the 4th quarter valued at about $28,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Starbucks during the 4th quarter valued at about $32,000. Finally, Clean Yield Group purchased a new position in shares of Starbucks during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 73.36% of the company’s stock.

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

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