Starbucks (NASDAQ:SBUX) Price Target Lowered to $108.00 at Barclays

Starbucks (NASDAQ:SBUX) had its price objective reduced by analysts at Barclays from $110.00 to $108.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the coffee company’s stock. Barclays‘s price target suggests a potential upside of 9.23% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. BTIG Research lifted their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Citigroup decreased their price target on shares of Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, UBS Group lifted their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $103.32.

Starbucks Price Performance

NASDAQ SBUX opened at $98.87 on Thursday. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66. The firm has a market capitalization of $112.04 billion, a PE ratio of 29.87, a P/E/G ratio of 2.63 and a beta of 0.97. The company’s 50 day simple moving average is $95.98 and its 200 day simple moving average is $85.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 45.15%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the business earned $1.06 earnings per share. Sell-side analysts anticipate that Starbucks will post 3.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents 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 corporate insiders.

Institutional Investors Weigh In On Starbucks

A number of hedge funds have recently bought and sold shares of the company. Atria Investments Inc boosted its holdings in Starbucks by 9.3% during the third quarter. Atria Investments Inc now owns 157,916 shares of the coffee company’s stock valued at $15,395,000 after acquiring an additional 13,479 shares during the period. Essex Savings Bank raised its position in shares of Starbucks by 1.6% during the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after buying an additional 112 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV acquired a new position in shares of Starbucks during the third quarter valued at about $211,000. Cypress Point Wealth Management LLC acquired a new position in shares of Starbucks during the third quarter valued at about $653,000. Finally, Tompkins Financial Corp raised its position in shares of Starbucks by 78.0% during the third quarter. Tompkins Financial Corp now owns 1,045 shares of the coffee company’s stock valued at $102,000 after buying an additional 458 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

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.