Starbucks (NASDAQ:SBUX) Shares Up 0.2% After Analyst Upgrade

Starbucks Co. (NASDAQ:SBUX)’s share price shot up 0.2% on Friday after BTIG Research raised their price target on the stock from $100.00 to $115.00. BTIG Research currently has a buy rating on the stock. Starbucks traded as high as $95.90 and last traded at $95.48. 986,631 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 11,379,106 shares. The stock had previously closed at $95.27.

SBUX has been the subject of a number of other reports. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a report on Wednesday, August 21st. Citigroup increased their price objective on shares of Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. BMO Capital Markets upped their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.44.

Insiders Place Their Bets

In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were 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 directly owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Institutional Trading of Starbucks

A number of large investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the second quarter valued at approximately $25,000. New Millennium Group LLC purchased a new position in Starbucks in the second quarter worth $26,000. Stephens Consulting LLC increased its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Starbucks during the second quarter valued at about $27,000. Finally, Olistico Wealth LLC purchased a new stake in Starbucks during the second quarter valued at about $31,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.6 %

The stock has a market capitalization of $109.69 billion, a PE ratio of 26.68, a PEG ratio of 2.08 and a beta of 0.97. The business has a fifty day moving average price of $94.90 and a 200-day moving average price of $84.73.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 3.55 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.