Stifel Nicolaus Forecasts Strong Price Appreciation for Starbucks (NASDAQ:SBUX) Stock

Starbucks (NASDAQ:SBUX) had its price objective increased by investment analysts at Stifel Nicolaus from $105.00 to $110.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the coffee company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 11.26% from the stock’s previous close.

SBUX has been the subject of a number of other research reports. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Morgan Stanley raised their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $103.32.

Starbucks Stock Performance

NASDAQ:SBUX opened at $98.87 on Thursday. The firm has a market cap of $112.04 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 2.63 and a beta of 0.97. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The business has a 50 day moving average price of $95.98 and a 200-day moving average price of $85.47.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 45.15% and a net margin of 10.40%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 earnings per share. Research analysts predict that Starbucks will post 3.45 EPS for the current year.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated 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 $5,697,682.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co boosted its stake in Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after purchasing an additional 105 shares during the period. Essex Savings Bank boosted its stake in Starbucks by 1.6% in the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after purchasing an additional 112 shares during the period. DT Investment Partners LLC boosted its stake in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the period. Childress Capital Advisors LLC boosted its stake in Starbucks by 4.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after purchasing an additional 126 shares during the period. Finally, Keystone Wealth Services LLC boosted its position in shares of Starbucks by 1.3% during the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock valued at $990,000 after acquiring an additional 130 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

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.