Citigroup Forecasts Strong Price Appreciation for Starbucks (NASDAQ:SBUX) Stock

Starbucks (NASDAQ:SBUX) had its target price increased by equities researchers at Citigroup from $96.00 to $99.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the coffee company’s stock. Citigroup’s target price would suggest a potential upside of 0.13% from the company’s current price.

Several other research firms have also issued reports on SBUX. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Barclays cut their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday. UBS Group boosted their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Bank of America cut their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.32.

Starbucks Price Performance

Shares of Starbucks stock opened at $98.87 on Thursday. The stock’s 50-day moving average is $95.98 and its 200-day moving average is $85.47. Starbucks has a one year low of $71.55 and a one year high of $107.66. The firm has a market cap of $112.04 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 2.63 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 45.15%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts expect that Starbucks will post 3.45 EPS for the current year.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated 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 purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Riverview Trust Co grew its holdings in shares of Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 105 shares during the last quarter. Essex Savings Bank increased its holdings in shares of Starbucks by 1.6% during the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after buying an additional 112 shares in the last quarter. DT Investment Partners LLC increased its holdings in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares in the last quarter. Childress Capital Advisors LLC boosted its holdings in shares of Starbucks by 4.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after acquiring an additional 126 shares in the last quarter. Finally, Keystone Wealth Services LLC grew its position in Starbucks by 1.3% during the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Company Profile

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.