Starbucks (NASDAQ:SBUX) Price Target Increased to $118.00 by Analysts at Bank of America

Starbucks (NASDAQ:SBUX) had its price target lifted by Bank of America from $112.00 to $118.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a buy rating on the coffee company’s stock.

Other equities analysts have also issued reports about the company. BMO Capital Markets raised their price target on Starbucks from $100.00 to $110.00 and gave the stock an outperform rating in a research report on Monday, September 9th. Baird R W upgraded shares of Starbucks from a hold rating to a strong-buy rating in a report on Tuesday, August 13th. TD Cowen restated a buy rating and issued a $110.00 price objective on shares of Starbucks in a research report on Thursday, September 12th. Barclays increased their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an overweight rating in a report on Wednesday, August 14th. Finally, Morgan Stanley restated an overweight rating and set a $98.00 price target on shares of Starbucks in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks currently has an average rating of Moderate Buy and an average price target of $100.08.

Starbucks Stock Down 0.9 %

Shares of SBUX stock opened at $96.05 on Wednesday. The business has a 50-day moving average price of $86.67 and a two-hundred day moving average price of $84.09. Starbucks has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a market cap of $108.84 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts expect that Starbucks will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, 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. 1.98% of the stock is currently owned by company insiders.

Institutional Trading of Starbucks

Institutional investors have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the second quarter valued at approximately $25,000. Vima LLC bought a new position in shares of Starbucks during the 4th quarter valued at $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks in the 4th quarter worth $26,000. New Millennium Group LLC bought a new stake in shares of Starbucks in the second quarter worth $26,000. Finally, Stephens Consulting LLC increased its position in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during 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.