Barclays Raises Starbucks (NASDAQ:SBUX) Price Target to $110.00

Starbucks (NASDAQ:SBUX) had its target price upped by analysts at Barclays from $93.00 to $110.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the coffee company’s stock. Barclays‘s price objective would indicate a potential upside of 19.28% from the company’s current price.

SBUX has been the subject of a number of other reports. TD Cowen raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the company from $81.00 to $105.00 in a research report on Tuesday. HSBC reduced their target price on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research note on Tuesday. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $81.00 to $110.00 in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Twelve research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.04.

Starbucks Price Performance

Shares of SBUX stock traded down $3.68 during trading on Wednesday, hitting $92.22. 17,423,635 shares of the stock traded hands, compared to its average volume of 11,784,513. The firm has a market capitalization of $104.50 billion, a P/E ratio of 25.53, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94. The firm’s fifty day moving average price is $77.44 and its 200-day moving average price is $83.84. Starbucks has a 52-week low of $71.55 and a 52-week high of $107.66.

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

Insider Activity

In related news, CFO Rachel Ruggeri sold 3,750 shares of the company’s 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 owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was 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 in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders have sold 7,250 shares of company stock worth $579,375 over the last ninety days. 1.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Starbucks

A number of large investors have recently bought and sold shares of SBUX. Vanguard Group Inc. grew its holdings in Starbucks by 0.4% during the 1st 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 in the last quarter. Norges Bank acquired a new stake in Starbucks during the 4th quarter valued at $1,240,652,000. Fisher Asset Management LLC grew its holdings in Starbucks by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after purchasing an additional 268,030 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Starbucks by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock valued at $948,093,000 after purchasing an additional 27,496 shares in the last quarter. Finally, Flossbach Von Storch AG grew its holdings in 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 purchasing an additional 2,897,282 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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.