Starbucks Co. (NASDAQ:SBUX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Starbucks Co. (NASDAQ:SBUX) have been given a consensus recommendation of “Moderate Buy” by the twenty-eight analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $100.52.

SBUX has been the topic of several research reports. Barclays upped their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. The Goldman Sachs Group began coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective for the company. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 acquired 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 disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in shares of Starbucks by 7.9% during the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after acquiring an additional 122 shares during the last quarter. Astoria Portfolio Advisors LLC. boosted its holdings in Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after purchasing an additional 127 shares during the last quarter. Carolinas Wealth Consulting LLC grew its stake in shares of Starbucks by 4.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after buying an additional 133 shares during the period. Edge Capital Group LLC increased its holdings in shares of Starbucks by 3.4% during the 4th quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after buying an additional 134 shares during the last quarter. Finally, M&R Capital Management Inc. raised its position in shares of Starbucks by 30.9% during the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after buying an additional 134 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $97.36 on Monday. The firm has a market capitalization of $110.33 billion, a P/E ratio of 26.82, a P/E/G ratio of 2.26 and a beta of 0.96. The business’s 50-day moving average is $88.38 and its 200 day moving average is $84.22. Starbucks has a 1 year low of $71.55 and a 1 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 the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. During the same period last year, the firm posted $1.00 EPS. Starbucks’s revenue was down .6% on a year-over-year basis. On average, analysts expect that Starbucks will post 3.56 EPS for the current year.

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.