Starbucks (NASDAQ:SBUX – Get Free Report)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a report issued on Friday,Benzinga reports. They currently have a $115.00 target price on the coffee company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 16.38% from the stock’s previous close.
Other equities analysts have also issued research reports about the stock. Morgan Stanley lifted their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Stifel Nicolaus lifted their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Bank of America decreased their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.92.
Read Our Latest Stock Analysis on Starbucks
Starbucks Trading Up 0.8 %
Starbucks (NASDAQ:SBUX – Get Free Report) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the firm posted $1.06 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, analysts predict that Starbucks will post 3.08 EPS for the current year.
Insider Activity at Starbucks
In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.98% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the second quarter worth $25,000. Financial Life Planners bought a new position in Starbucks during the fourth quarter worth about $25,000. DT Investment Partners LLC raised its stake in Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Starbucks during the 3rd quarter worth approximately $49,000. Finally, Friedenthal Financial bought a new position in Starbucks during the third quarter worth $50,000. 72.29% of the stock is owned by institutional investors and hedge funds.
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.
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