BTIG Research Increases Starbucks (NASDAQ:SBUX) Price Target to $115.00

Starbucks (NASDAQ:SBUX) had its price target hoisted by research analysts at BTIG Research from $100.00 to $115.00 in a report issued on Thursday, Marketbeat reports. The brokerage presently has a “buy” rating on the coffee company’s stock. BTIG Research’s price target would indicate a potential upside of 18.75% from the company’s previous close.

A number of other equities analysts also recently commented on SBUX. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. BMO Capital Markets boosted their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. boosted their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Bank of America boosted their target price on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.44.

Starbucks Trading Up 1.6 %

Starbucks stock opened at $96.84 on Thursday. Starbucks has a twelve month low of $71.55 and a twelve month high of $107.66. The stock’s fifty day simple moving average is $94.90 and its 200-day simple moving average is $84.73. The firm has a market capitalization of $109.69 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.08 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 earnings per share. Sell-side analysts predict that Starbucks will post 3.55 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the 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. This represents 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL purchased a new position in Starbucks in the second quarter valued at about $25,000. New Millennium Group LLC purchased a new position in Starbucks in the second quarter valued at about $26,000. Stephens Consulting LLC increased its holdings 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 buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Starbucks in the second quarter valued at about $27,000. Finally, MFA Wealth Advisors LLC purchased a new position in Starbucks in the second quarter valued at about $31,000. 72.29% of the stock is owned by hedge funds and other 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.