Starbucks (NASDAQ:SBUX) Price Target Increased to $118.00 by Analysts at Bank of America

Starbucks (NASDAQ:SBUX) had its price target upped by analysts at Bank of America from $112.00 to $118.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the coffee company’s stock. Bank of America‘s price objective would suggest a potential upside of 22.36% from the stock’s previous close.

A number of other brokerages have also recently issued reports on SBUX. Jefferies Financial Group dropped their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $100.08.

Starbucks Stock Up 0.1 %

SBUX opened at $96.44 on Wednesday. The stock’s 50 day moving average price is $85.30 and its two-hundred day moving average price is $83.89. The firm has a market capitalization of $109.29 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. Starbucks has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $1.00 earnings per share. As a group, analysts anticipate that Starbucks will post 3.56 earnings per share for the current year.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

A number of institutional investors have recently modified their holdings of SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter valued at about $25,000. Vima LLC bought a new stake in Starbucks during the fourth quarter worth $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at $26,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the 2nd quarter worth $26,000. Finally, Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

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.