TD Cowen Increases Starbucks (NASDAQ:SBUX) Price Target to $110.00

Starbucks (NASDAQ:SBUX) had its target price upped by TD Cowen from $105.00 to $110.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the coffee company’s stock. TD Cowen’s price target points to a potential upside of 20.14% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Bank of America upped their target price on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Wedbush reaffirmed a “neutral” rating and set a $80.00 target price on shares of Starbucks in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Barclays upped their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.42.

Starbucks Stock Down 0.8 %

NASDAQ SBUX opened at $91.56 on Wednesday. The company’s 50 day moving average is $82.14 and its 200-day moving average is $83.96. Starbucks has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a market cap of $103.71 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts expect that Starbucks will post 3.56 EPS for the current year.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction 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 owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders sold 9,790 shares of company stock valued at $865,514 in the last quarter. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after acquiring an additional 470,498 shares in the last quarter. Norges Bank bought a new position in shares of Starbucks in the 4th quarter worth about $1,240,652,000. Fisher Asset Management LLC increased its stake in shares of Starbucks by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock worth $1,090,654,000 after acquiring an additional 260,489 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after acquiring an additional 221,718 shares in the last quarter. Finally, Flossbach Von Storch AG increased its stake in shares of Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares in 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.