Starbucks (NASDAQ:SBUX) Shares Up 0.2% After Analyst Upgrade

by · The Markets Daily

Starbucks Co. (NASDAQ:SBUX – Get Free Report) traded up 0.2% on Friday after BTIG Research raised their price target on the stock from $100.00 to $115.00. BTIG Research currently has a buy rating on the stock. Starbucks traded as high as $95.90 and last traded at $95.48. 986,631 shares changed hands during trading, a decline of 91% from the average session volume of 11,379,106 shares. The stock had previously closed at $95.27.

A number of other research firms also recently commented on SBUX. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. Citigroup boosted their price objective on shares of Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.44.

Read Our Latest Analysis on SBUX

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred 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 approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Institutional investors and hedge funds have recently bought and sold shares of the company. Kapitalo Investimentos Ltda increased its stake in Starbucks by 51.1% during the fourth quarter. Kapitalo Investimentos Ltda now owns 615 shares of the coffee company’s stock valued at $59,000 after purchasing an additional 208 shares during the last quarter. Triangle Securities Wealth Management boosted its holdings in shares of Starbucks by 16.7% in the 1st quarter. Triangle Securities Wealth Management now owns 5,223 shares of the coffee company’s stock valued at $477,000 after buying an additional 749 shares during the period. Dakota Community Bank & Trust NA raised its stake in Starbucks by 13.4% during the first quarter. Dakota Community Bank & Trust NA now owns 3,247 shares of the coffee company’s stock worth $297,000 after acquiring an additional 383 shares during the period. Financiere des Professionnels Fonds d investissement inc. raised its stake in Starbucks by 41.3% during the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 73,251 shares of the coffee company’s stock worth $6,694,000 after acquiring an additional 21,420 shares during the period. Finally, RFG Advisory LLC lifted its holdings in Starbucks by 5.2% in the first quarter. RFG Advisory LLC now owns 10,353 shares of the coffee company’s stock worth $946,000 after acquiring an additional 513 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 0.2 %

The company has a market capitalization of $108.15 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 2.08 and a beta of 0.97. The stock has a 50 day simple moving average of $94.47 and a 200 day simple moving average of $84.69.

Starbucks (NASDAQ:SBUX – Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) 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 business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

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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