Brokerages Set Starbucks Co. (NASDAQ:SBUX) Price Target at $100.08

Shares of Starbucks Co. (NASDAQ:SBUX) have been given an average rating of “Moderate Buy” by the twenty-seven research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $99.92.

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group began coverage on Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price for the company. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, BMO Capital Markets boosted their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th.

Insiders Place Their Bets

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 acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’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 acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SBUX. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Starbucks by 19.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 215,988 shares of the coffee company’s stock worth $16,815,000 after purchasing an additional 34,498 shares during the last quarter. Verity & Verity LLC raised its stake in shares of Starbucks by 4.5% during the second quarter. Verity & Verity LLC now owns 131,308 shares of the coffee company’s stock worth $10,222,000 after buying an additional 5,658 shares during the last quarter. Lazari Capital Management Inc. lifted its holdings in Starbucks by 13.0% in the second quarter. Lazari Capital Management Inc. now owns 17,738 shares of the coffee company’s stock valued at $1,381,000 after buying an additional 2,044 shares during the period. Sanctuary Advisors LLC bought a new position in Starbucks in the second quarter valued at approximately $18,704,000. Finally, Coronation Fund Managers Ltd. bought a new position in Starbucks in the second quarter valued at approximately $2,043,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 1.2 %

Shares of SBUX opened at $95.62 on Monday. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66. The company’s fifty day moving average is $87.50 and its 200-day moving average is $84.04. The firm has a market cap of $108.36 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 earnings per share. As a group, research analysts predict that Starbucks will post 3.56 earnings per share for the current fiscal year.

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.