SBUX has been the subject of several other research reports. Morgan Stanley lifted their price target on Starbucks from $88.00 to $95.00 and gave the stock an equal weight rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised shares of Starbucks to a buy rating and set a $94.00 price objective on the stock in a research report on Tuesday, January 7th. Bank of America set a $100.00 price objective on shares of Starbucks and gave the company a buy rating in a research note on Monday, September 30th. Cowen set a $93.00 target price on shares of Starbucks and gave the stock a hold rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada started coverage on shares of Starbucks in a research note on Monday, December 9th. They issued an outperform rating and a $97.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $92.35.
Shares of NASDAQ:SBUX opened at $93.62 on Friday. Starbucks has a 1 year low of $62.93 and a 1 year high of $99.72. The stock’s 50-day moving average is $88.17 and its 200 day moving average is $89.16. The company has a market cap of $110.57 billion, a PE ratio of 31.95, a P/E/G ratio of 2.36 and a beta of 0.51.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.70 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.70. The business had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Starbucks had a net margin of 13.58% and a negative return on equity of 75.45%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. Equities research analysts anticipate that Starbucks will post 3.05 earnings per share for the current fiscal year.
In other news, Director Myron E. Ullman III sold 4,252 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $88.12, for a total value of $374,686.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jill Walker sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $86.47, for a total value of $172,940.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,207 shares of company stock worth $3,072,954. Company insiders own 3.98% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Nuveen Asset Management LLC boosted its holdings in Starbucks by 977.6% in the second quarter. Nuveen Asset Management LLC now owns 7,923,411 shares of the coffee company’s stock valued at $664,219,000 after purchasing an additional 7,188,139 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Starbucks by 1.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,634,647 shares of the coffee company’s stock worth $388,522,000 after purchasing an additional 68,949 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Starbucks by 4.0% in the third quarter. Parametric Portfolio Associates LLC now owns 3,766,481 shares of the coffee company’s stock valued at $333,032,000 after purchasing an additional 144,508 shares in the last quarter. California Public Employees Retirement System lifted its position in Starbucks by 14.9% during the third quarter. California Public Employees Retirement System now owns 3,719,344 shares of the coffee company’s stock worth $328,864,000 after buying an additional 482,072 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in Starbucks by 0.3% during the second quarter. California State Teachers Retirement System now owns 2,037,403 shares of the coffee company’s stock worth $170,795,000 after buying an additional 5,928 shares in the last quarter. 69.97% of the stock is owned by institutional investors.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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