Starbucks (NASDAQ:SBUX) Given New $99.00 Price Target at Citigroup

Starbucks (NASDAQ:SBUX) had its target price lifted by investment analysts at Citigroup from $98.00 to $99.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the coffee company’s stock. Citigroup’s price target would suggest a potential upside of 2.81% from the company’s current price.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Barclays lifted their price objective on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Finally, Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $101.16.

Starbucks Trading Up 0.2 %

Starbucks stock traded up $0.20 during midday trading on Tuesday, reaching $96.29. 4,173,567 shares of the stock traded hands, compared to its average volume of 11,639,326. The company has a 50-day simple moving average of $91.33 and a two-hundred day simple moving average of $84.36. Starbucks has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a market cap of $109.07 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.00 EPS. Equities research analysts anticipate that Starbucks will post 3.55 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 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 chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several hedge funds and other institutional investors have recently modified their holdings of SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the second quarter worth $25,000. Vima LLC bought a new position in Starbucks during the fourth quarter valued at about $26,000. Scarborough Advisors LLC bought a new position in Starbucks during the fourth quarter valued at about $26,000. New Millennium Group LLC bought a new position in Starbucks during the second quarter valued at about $26,000. Finally, Stephens Consulting LLC raised its holdings in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

About Starbucks

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.