Starbucks (NASDAQ:SBUX) Given “Market Perform” Rating at Oppenheimer

Starbucks (NASDAQ:SBUX)‘s stock had its “market perform” rating reissued by analysts at Oppenheimer in a research note issued to investors on Friday, Benzinga reports.

SBUX has been the subject of several other reports. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. BTIG Research dropped their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Wedbush reaffirmed a “neutral” rating and set a $95.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Stifel Nicolaus cut their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $105.00 price objective on shares of Starbucks in a research report on Monday, April 1st. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $106.68.

Starbucks Stock Performance

SBUX stock opened at $87.61 on Friday. Starbucks has a 52 week low of $84.29 and a 52 week high of $115.48. The company has a market capitalization of $99.19 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 1.41 and a beta of 0.97. The company’s 50-day simple moving average is $90.94 and its 200 day simple moving average is $94.43.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the company earned $0.75 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts forecast that Starbucks will post 4.03 EPS for the current year.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 7,250 shares of company stock valued at $653,183 over the last quarter. 1.98% of the stock is owned by company insiders.

Institutional Trading of Starbucks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBUX. BCK Partners Inc. acquired a new stake in Starbucks during the 1st quarter valued at approximately $2,640,000. American Century Companies Inc. increased its position in Starbucks by 7.3% during the 1st quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock valued at $2,514,000 after purchasing an additional 1,872 shares during the period. Roundview Capital LLC increased its position in Starbucks by 37.5% during the 1st quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after purchasing an additional 1,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Starbucks during the 1st quarter worth approximately $198,000. Finally, Mather Group LLC. boosted its holdings in shares of Starbucks by 77.5% during the 1st quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock worth $629,000 after buying an additional 3,017 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Company Profile

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