Starbucks (NASDAQ:SBUX) Price Target Raised to $95.00

Starbucks (NASDAQ:SBUX) had its price objective raised by research analysts at Mizuho from $86.00 to $95.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the coffee company’s stock. Mizuho’s price target would indicate a potential downside of 2.68% from the stock’s previous close.

A number of other equities research analysts have also commented on SBUX. William Blair upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating in a report on Thursday. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the company an “overweight” rating in a research report on Thursday, October 16th. Bank of America lifted their price objective on Starbucks from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. BMO Capital Markets reissued an “outperform” rating on shares of Starbucks in a research report on Thursday, October 30th. Finally, BTIG Research reissued a “buy” rating and set a $105.00 price objective on shares of Starbucks in a report on Thursday. Seventeen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.50.

Starbucks Price Performance

Shares of SBUX opened at $97.62 on Monday. Starbucks has a 1 year low of $75.50 and a 1 year high of $117.46. The stock has a 50 day simple moving average of $87.00 and a two-hundred day simple moving average of $87.05. The firm has a market cap of $111.00 billion, a P/E ratio of 59.52, a P/E/G ratio of 2.07 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The business had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter in the previous year, the firm posted $0.80 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks will post 2.99 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average cost of $85.00 per share, with a total value of $994,500.00. Following the completion of the purchase, the director owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. The trade was a 28.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Starbucks

A number of institutional investors and hedge funds have recently modified their holdings of the business. Game Plan Financial Advisors LLC bought a new stake in Starbucks during the 2nd quarter valued at $25,000. Transce3nd LLC grew its stake in Starbucks by 270.3% in the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Chelsea Counsel Co. bought a new position in Starbucks in the second quarter worth about $26,000. Collier Financial purchased a new stake in shares of Starbucks during the third quarter valued at about $25,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of Starbucks in the 3rd quarter valued at about $26,000. 72.29% of the stock is owned by institutional investors.

Starbucks Company Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.