Starbucks (NASDAQ:SBUX) Rating Reiterated by TD Cowen

Starbucks (NASDAQ:SBUX)‘s stock had its “buy” rating reaffirmed by investment analysts at TD Cowen in a research report issued on Wednesday, Benzinga reports. They presently have a $110.00 price target on the coffee company’s stock. TD Cowen’s target price suggests a potential upside of 13.23% from the stock’s previous close.

A number of other analysts also recently issued reports on SBUX. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, BTIG Research upped their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.48.

Starbucks Trading Down 0.5 %

Shares of NASDAQ:SBUX opened at $97.15 on Wednesday. The company has a 50 day moving average of $95.38 and a 200 day moving average of $84.89. The stock has a market cap of $110.09 billion, a P/E ratio of 27.21, a P/E/G ratio of 2.14 and a beta of 0.97. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the business earned $1.00 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts forecast that Starbucks will post 3.55 earnings per share for the current fiscal year.

Insider Activity at Starbucks

In related news, 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 sale, the chief executive officer now owns 62,502 shares in the company, valued at $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 is available at this link. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the second quarter worth $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the 2nd quarter worth about $26,000. Stephens Consulting LLC lifted its position in Starbucks by 498.2% during the 2nd 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 period. Hobbs Group Advisors LLC bought a new stake in Starbucks during the second quarter worth about $27,000. Finally, Olistico Wealth LLC bought a new position in shares of Starbucks during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors 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.