Evercore ISI Reiterates “Outperform” Rating for Starbucks (NASDAQ:SBUX)

Starbucks (NASDAQ:SBUX)‘s stock had its “outperform” rating reiterated by equities research analysts at Evercore ISI in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $105.00 price objective on the coffee company’s stock, up from their prior price objective of $95.00. Evercore ISI’s price target would indicate a potential upside of 15.26% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. BMO Capital Markets cut their price target on Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Wall Street Zen lowered Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, Guggenheim cut their price target on Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus price target of $98.36.

Starbucks Stock Performance

NASDAQ SBUX opened at $91.10 on Tuesday. The stock has a 50-day simple moving average of $86.38 and a two-hundred day simple moving average of $94.44. The firm has a market capitalization of $103.53 billion, a P/E ratio of 33.01, a PEG ratio of 4.66 and a beta of 1.00. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. As a group, analysts forecast that Starbucks will post 2.99 earnings per share for the current year.

Institutional Investors Weigh In On Starbucks

Several institutional investors have recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Starbucks during the 4th quarter worth approximately $389,000. WealthShield Partners LLC boosted its holdings in shares of Starbucks by 15.2% during the 4th quarter. WealthShield Partners LLC now owns 3,065 shares of the coffee company’s stock worth $280,000 after purchasing an additional 404 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Starbucks by 0.5% during the 4th quarter. IFP Advisors Inc now owns 50,027 shares of the coffee company’s stock worth $4,566,000 after purchasing an additional 228 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in shares of Starbucks by 253.5% during the 4th quarter. Impax Asset Management Group plc now owns 312,653 shares of the coffee company’s stock worth $28,530,000 after purchasing an additional 224,214 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.