Starbucks (NASDAQ:SBUX) Price Target Raised to $80.00 at Wedbush

Starbucks (NASDAQ:SBUX) had its price target raised by equities researchers at Wedbush from $77.00 to $80.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the coffee company’s stock. Wedbush’s target price would suggest a potential upside of 5.35% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Evercore ISI lowered shares of Starbucks from an “outperform” rating to an “inline” rating and decreased their target price for the stock from $92.00 to $80.00 in a research report on Tuesday, July 16th. Wells Fargo & Company lowered their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley reduced their price target on shares of Starbucks from $104.00 to $98.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. lowered their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, DZ Bank cut Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Friday, May 3rd. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and an average price target of $91.83.

Starbucks Stock Performance

SBUX stock opened at $75.94 on Wednesday. The stock has a market capitalization of $86.02 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 1.70 and a beta of 0.94. The company has a fifty day moving average of $77.79 and a 200-day moving average of $84.89. Starbucks has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting 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 net margin of 11.38% and a negative return on equity of 49.91%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 earnings per share. Equities analysts forecast that Starbucks will post 3.57 earnings per share for the current fiscal year.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 7,250 shares of company stock worth $579,375 in the last three months. 1.98% of the stock is currently owned by company insiders.

Institutional Trading of Starbucks

Large investors have recently modified their holdings of the business. Scarborough Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $26,000. Vima LLC acquired a new stake in Starbucks during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new position in Starbucks during the 4th quarter worth approximately $27,000. Fairman Group LLC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $30,000. Finally, Cypress Capital Management LLC WY increased its holdings in shares of Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.