Starbucks (NASDAQ:SBUX) Price Target Raised to $99.00 at Citigroup

by · The Markets Daily

Starbucks (NASDAQ:SBUX – Get Free Report) had its price objective upped by Citigroup from $96.00 to $99.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the coffee company’s stock. Citigroup’s price target suggests a potential upside of 1.33% from the company’s previous close.

Several other research analysts have also recently commented on the stock. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Stifel Nicolaus lifted their price objective on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America decreased their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Wedbush reduced their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.32.

View Our Latest Stock Analysis on SBUX

Starbucks Stock Up 0.4 %

Shares of SBUX traded up $0.38 during trading hours on Thursday, hitting $97.70. The company had a trading volume of 11,668,666 shares, compared to its average volume of 11,318,005. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66. The firm has a market cap of $110.71 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.59 and a beta of 0.97. The business has a fifty day moving average of $95.77 and a 200-day moving average of $85.28.

Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.06 earnings per share. On average, equities analysts expect that Starbucks will post 3.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated 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 completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SBUX. Riverview Trust Co lifted its position in Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 105 shares during the last quarter. DT Investment Partners LLC increased 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 acquiring an additional 121 shares during the last quarter. Childress Capital Advisors LLC raised its position in Starbucks by 4.8% during the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after purchasing an additional 126 shares in the last quarter. Keystone Wealth Services LLC boosted its holdings in shares of Starbucks by 1.3% in the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after purchasing an additional 130 shares in the last quarter. Finally, Chicago Capital LLC increased its position in shares of Starbucks by 0.6% during the 3rd quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock valued at $2,060,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

About Starbucks

(Get Free Report)

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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