Starbucks’ (SBUX) Buy Rating Reiterated at TD Cowen

Starbucks (NASDAQ:SBUX)‘s stock had its “buy” rating reiterated by investment analysts at TD Cowen in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $110.00 price target on the coffee company’s stock. TD Cowen’s price objective would suggest a potential upside of 13.61% from the company’s current price.

SBUX has been the topic of a number of other research reports. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Bank of America dropped their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, August 21st. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $102.20.

Starbucks Trading Up 0.4 %

Shares of Starbucks stock opened at $96.82 on Wednesday. The firm has a market cap of $109.67 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.14 and a beta of 0.97. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66. The stock’s fifty day moving average price is $95.31 and its 200-day moving average price is $84.80.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for 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%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 earnings per share. Analysts forecast that Starbucks will post 3.55 earnings per share for the current year.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred 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 directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Institutional Trading of Starbucks

A number of institutional investors and hedge funds have recently made changes to their positions in SBUX. AdvisorNet Financial Inc increased its position in shares of Starbucks by 45.5% in the first quarter. AdvisorNet Financial Inc now owns 2,024 shares of the coffee company’s stock valued at $185,000 after buying an additional 633 shares in the last quarter. Brookstone Capital Management increased its position in shares of Starbucks by 18.7% in the first quarter. Brookstone Capital Management now owns 22,345 shares of the coffee company’s stock valued at $2,042,000 after buying an additional 3,516 shares in the last quarter. Aspiriant LLC increased its position in shares of Starbucks by 4.0% in the first quarter. Aspiriant LLC now owns 5,539 shares of the coffee company’s stock valued at $506,000 after buying an additional 211 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of Starbucks by 21.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 9,929 shares of the coffee company’s stock worth $907,000 after acquiring an additional 1,766 shares during the last quarter. Finally, ERn Financial LLC boosted its stake in shares of Starbucks by 4.1% in the first quarter. ERn Financial LLC now owns 4,514 shares of the coffee company’s stock worth $413,000 after acquiring an additional 177 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

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.