Starbucks (NASDAQ:SBUX) Price Target Raised to $115.00

Starbucks (NASDAQ:SBUX) had its target price increased by BTIG Research from $100.00 to $115.00 in a research note published on Thursday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the coffee company’s stock.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.44.

Starbucks Trading Up 1.6 %

Shares of Starbucks stock opened at $96.84 on Thursday. The company has a market cap of $109.69 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97. The company has a 50 day moving average of $94.90 and a 200-day moving average of $84.70. Starbucks has a 1-year low of $71.55 and a 1-year high of $107.66.

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

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated 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 directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Institutional Trading of Starbucks

Several large investors have recently made changes to their positions in SBUX. Fidelis Capital Partners LLC boosted its holdings in Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after acquiring an additional 1,751 shares in the last quarter. AMI Asset Management Corp raised its position in shares of Starbucks by 2.8% during the first quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after purchasing an additional 10,092 shares during the period. LRI Investments LLC bought a new position in shares of Starbucks in the 1st quarter worth $136,000. BNP Paribas acquired a new stake in Starbucks in the 1st quarter valued at $9,332,000. Finally, Great Valley Advisor Group Inc. increased its stake in Starbucks by 45.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after purchasing an additional 5,377 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.