Starbucks (NASDAQ:SBUX) PT Raised to $110.00 at TD Cowen

Starbucks (NASDAQ:SBUX) had its target price increased by stock analysts at TD Cowen from $105.00 to $110.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the coffee company’s stock. TD Cowen’s price objective would suggest a potential upside of 18.64% from the company’s previous close.

Several other equities analysts have also weighed in on SBUX. The Goldman Sachs Group initiated coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective on the stock. Stifel Nicolaus upgraded shares of 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 report on Wednesday, August 14th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a report on Wednesday, August 21st. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $99.42.

Starbucks Price Performance

Starbucks stock traded down $0.46 during trading hours on Wednesday, hitting $92.72. The stock had a trading volume of 3,010,646 shares, compared to its average volume of 11,979,444. Starbucks has a 1-year low of $71.55 and a 1-year high of $107.66. The stock’s fifty day moving average is $81.63 and its two-hundred day moving average is $83.84. The stock has a market capitalization of $105.07 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced 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. 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 the consensus estimate of $9.25 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Starbucks will post 3.56 EPS for the current year.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction 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 owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,790 shares of company stock worth $865,514. 1.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $25,000. Vima LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. Scarborough Advisors LLC bought a new stake in Starbucks during the fourth quarter worth $26,000. New Millennium Group LLC bought a new stake in Starbucks during the second quarter worth $26,000. Finally, Stephens Consulting LLC lifted its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.