Equities researchers at Stephens started coverage on shares of Starbucks (NASDAQ:SBUX – Get Rating) in a report issued on Thursday, The Fly reports. The firm set an “equal weight” rating on the coffee company’s stock.
Other research analysts have also recently issued reports about the stock. Wedbush lifted their price target on shares of Starbucks from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, September 14th. JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, September 14th. Sanford C. Bernstein initiated coverage on shares of Starbucks in a research report on Wednesday, September 7th. They set a “market perform” rating and a $94.00 price target for the company. UBS Group lifted their target price on shares of Starbucks from $82.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Finally, Morgan Stanley lifted their target price on shares of Starbucks from $88.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, September 15th. Sixteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $104.71.
Starbucks Stock Down 4.4 %
Shares of NASDAQ:SBUX traded down $3.90 on Thursday, hitting $84.70. The company had a trading volume of 9,928,275 shares, compared to its average volume of 9,367,455. The firm’s 50-day simple moving average is $85.89 and its two-hundred day simple moving average is $81.48. Starbucks has a 1 year low of $68.39 and a 1 year high of $117.80. The firm has a market capitalization of $97.18 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 2.45 and a beta of 0.94.
Starbucks (NASDAQ:SBUX – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same quarter in the previous year, the company posted $1.01 earnings per share. Equities research analysts anticipate that Starbucks will post 2.88 EPS for the current year.
Insider Transactions at Starbucks
In other news, EVP Zabrina Jenkins sold 4,020 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total value of $373,860.00. Following the transaction, the executive vice president now owns 36,337 shares of the company’s stock, valued at $3,379,341. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Zabrina Jenkins sold 4,020 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the sale, the executive vice president now owns 36,337 shares of the company’s stock, valued at $3,379,341. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mellody L. Hobson purchased 54,750 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average cost of $92.58 per share, for a total transaction of $5,068,755.00. Following the purchase, the director now owns 433,254 shares of the company’s stock, valued at $40,110,655.32. The disclosure for this purchase can be found here. Insiders own 0.27% of the company’s stock.
Institutional Investors Weigh In On Starbucks
A number of hedge funds have recently bought and sold shares of SBUX. Guardian Wealth Management Inc. purchased a new stake in shares of Starbucks in the fourth quarter valued at $25,000. Delos Wealth Advisors LLC purchased a new position in Starbucks in the 4th quarter worth about $28,000. Bromfield Sneider Wealth Advisors purchased a new position in Starbucks in the 1st quarter worth about $25,000. Burleson & Company LLC grew its holdings in Starbucks by 2,660.0% during the 1st quarter. Burleson & Company LLC now owns 276 shares of the coffee company’s stock worth $25,000 after acquiring an additional 266 shares in the last quarter. Finally, Herold Advisors Inc. bought a new position in Starbucks during the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 67.97% of the company’s stock.
About Starbucks
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.