Wedbush set a $86.00 target price on Starbucks (NASDAQ:SBUX) in a research note issued to investors on Friday morning, TipRanks reports. The brokerage currently has a hold rating on the coffee company’s stock.
Other analysts have also issued reports about the stock. Telsey Advisory Group reissued a market perform rating and set a $90.00 target price (up from $80.00) on shares of Starbucks in a research note on Friday, July 26th. ValuEngine lowered shares of Starbucks from a buy rating to a hold rating in a research note on Wednesday, October 2nd. UBS Group boosted their target price on shares of Starbucks from $78.00 to $95.00 and gave the company a neutral rating in a research note on Monday, July 29th. Goldman Sachs Group began coverage on shares of Starbucks in a research note on Monday, July 29th. They set a buy rating and a $110.00 target price for the company. Finally, BTIG Research reissued a hold rating on shares of Starbucks in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $89.76.
Shares of SBUX traded up $0.22 during trading hours on Friday, reaching $83.60. 413,679 shares of the company traded hands, compared to its average volume of 5,581,209. The firm has a market cap of $99.57 billion, a price-to-earnings ratio of 34.55, a PEG ratio of 2.03 and a beta of 0.53. Starbucks has a 12-month low of $57.39 and a 12-month high of $99.72. The stock’s fifty day moving average price is $88.32 and its 200 day moving average price is $86.05.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.67 billion. Starbucks had a net margin of 13.63% and a negative return on equity of 125.91%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, equities analysts expect that Starbucks will post 2.83 earnings per share for the current year.
In other Starbucks news, Director Javier G. Teruel sold 59,838 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.92, for a total value of $5,799,498.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jill Walker sold 2,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $95.80, for a total transaction of $191,600.00. Following the completion of the transaction, the chief accounting officer now owns 39,999 shares of the company’s stock, valued at $3,831,904.20. The disclosure for this sale can be found here. Insiders sold 119,377 shares of company stock valued at $11,430,652 over the last 90 days. 3.98% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Enterprise Trust & Investment Co bought a new position in Starbucks in the second quarter worth about $25,000. 1 North Wealth Services LLC bought a new position in Starbucks in the third quarter worth about $30,000. Northern Oak Wealth Management Inc. raised its holdings in Starbucks by 95.7% in the second quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock worth $31,000 after purchasing an additional 177 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new position in Starbucks in the second quarter worth about $32,000. Finally, Atlas Capital Advisors LLC raised its holdings in Starbucks by 53.3% in the second quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock worth $35,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 70.76% of the company’s stock.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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