Stifel Nicolaus Lowers Starbucks (NASDAQ:SBUX) Price Target to $105.00

Starbucks (NASDAQ:SBUX) had its target price cut by research analysts at Stifel Nicolaus from $110.00 to $105.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the coffee company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 8.08% from the company’s current price.

Other analysts also recently issued research reports about the stock. Citigroup upped their price target on shares of Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Thursday, September 12th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Finally, Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.48.

Starbucks Price Performance

NASDAQ SBUX opened at $97.15 on Wednesday. The firm’s fifty day moving average price is $95.38 and its 200 day moving average price is $84.89. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a market capitalization of $110.09 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts forecast that Starbucks will post 3.55 earnings per share for the current year.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other 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 value of $305,597.50. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Hedge funds have recently modified their holdings of the company. AdvisorNet Financial Inc boosted its holdings in shares of Starbucks by 45.5% during the first quarter. AdvisorNet Financial Inc now owns 2,024 shares of the coffee company’s stock worth $185,000 after purchasing an additional 633 shares during the last quarter. Brookstone Capital Management boosted its stake in Starbucks by 18.7% in the 1st quarter. Brookstone Capital Management now owns 22,345 shares of the coffee company’s stock worth $2,042,000 after buying an additional 3,516 shares during the last quarter. Aspiriant LLC grew its holdings in Starbucks by 4.0% in the 1st quarter. Aspiriant LLC now owns 5,539 shares of the coffee company’s stock valued at $506,000 after buying an additional 211 shares during the period. Wealthcare Advisory Partners LLC increased its stake in shares of Starbucks by 21.6% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 9,929 shares of the coffee company’s stock valued at $907,000 after acquiring an additional 1,766 shares during the last quarter. Finally, ERn Financial LLC lifted its holdings in shares of Starbucks by 4.1% during the 1st 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 period. 72.29% of the stock is owned by institutional investors and hedge funds.

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.