Starbucks (NASDAQ:SBUX) PT Raised to $105.00 at JPMorgan Chase & Co.

Starbucks (NASDAQ:SBUX) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $90.00 to $105.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the coffee company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 7.77% from the stock’s previous close.

A number of other brokerages have also recently commented on SBUX. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Wedbush restated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.12.

Starbucks Trading Down 0.1 %

SBUX opened at $97.43 on Monday. The company has a market cap of $110.41 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.33 and a beta of 0.96. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66. The business’s 50-day moving average price is $89.58 and its 200-day moving average price is $84.24.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS 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 analyst estimates of $9.25 billion. During the same period last year, the business posted $1.00 earnings per share. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts forecast that Starbucks will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SBUX. Davis Capital Management lifted its holdings in Starbucks by 5.7% during the third quarter. Davis Capital Management now owns 11,920 shares of the coffee company’s stock valued at $1,162,000 after purchasing an additional 642 shares in the last quarter. Jacobs & Co. CA lifted its stake in shares of Starbucks by 4.8% during the 3rd quarter. Jacobs & Co. CA now owns 169,132 shares of the coffee company’s stock valued at $16,488,000 after buying an additional 7,814 shares in the last quarter. Mattson Financial Services LLC purchased a new position in shares of Starbucks during the 2nd quarter valued at $2,317,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Starbucks by 19.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 215,988 shares of the coffee company’s stock worth $16,815,000 after buying an additional 34,498 shares during the period. Finally, Verity & Verity LLC increased its stake in Starbucks by 4.5% in the 2nd quarter. Verity & Verity LLC now owns 131,308 shares of the coffee company’s stock worth $10,222,000 after buying an additional 5,658 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

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.