Starbucks (NASDAQ:SBUX) Rating Reiterated by TD Cowen

Starbucks (NASDAQ:SBUX)‘s stock had its “buy” rating reaffirmed by equities research analysts at TD Cowen in a report released on Wednesday, Benzinga reports. They presently have a $110.00 price target on the coffee company’s stock. TD Cowen’s price target would indicate a potential upside of 13.23% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus cut their price target on Starbucks from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research report on Tuesday, August 13th. Finally, Morgan Stanley boosted their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.48.

Starbucks Stock Performance

NASDAQ:SBUX opened at $97.15 on Wednesday. Starbucks has a 52 week low of $71.55 and a 52 week high of $107.66. The firm’s fifty day moving average is $95.38 and its 200-day moving average is $84.89. The firm has a market cap of $110.09 billion, a P/E ratio of 27.21, a P/E/G ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate 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 was down .6% compared to the same quarter last year. During the same period last year, the business posted $1.00 EPS. As a group, sell-side analysts anticipate that Starbucks will post 3.55 earnings per share for the current year.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $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 accessible through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Starbucks by 0.4% during the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after purchasing an additional 470,498 shares during the last quarter. Legal & General Group Plc raised its position in shares of Starbucks by 2.6% in the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares during the period. Flossbach Von Storch AG lifted its stake in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Starbucks by 5.2% in the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after buying an additional 266,570 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new position in Starbucks in the 1st quarter valued at approximately $415,167,000. Institutional investors own 72.29% of the company’s stock.

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.