Starbucks (NASDAQ:SBUX) Given New $95.00 Price Target at UBS Group

Starbucks (NASDAQ:SBUX) had its price target hoisted by UBS Group from $85.00 to $95.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the coffee company’s stock. UBS Group’s target price points to a potential downside of 1.08% from the stock’s current price.

A number of other research firms also recently commented on SBUX. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and cut their price target for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.48.

Starbucks Trading Down 0.8 %

NASDAQ:SBUX traded down $0.78 during mid-day trading on Wednesday, hitting $96.04. The company had a trading volume of 7,287,319 shares, compared to its average volume of 11,320,317. The business has a fifty day simple moving average of $95.31 and a 200-day simple moving average of $84.80. Starbucks has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a market capitalization of $108.78 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 2.14 and a beta of 0.97.

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

Insiders Place Their Bets

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC boosted its stake in shares of Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after buying an additional 1,751 shares in the last quarter. AMI Asset Management Corp lifted its holdings in shares of Starbucks by 2.8% during the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock valued at $33,384,000 after acquiring an additional 10,092 shares in the last quarter. LRI Investments LLC purchased a new stake in Starbucks during the 1st quarter worth $136,000. BNP Paribas bought a new stake in shares of Starbucks in the 1st quarter worth about $9,332,000. Finally, Great Valley Advisor Group Inc. grew its position in shares of Starbucks by 45.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after buying an additional 5,377 shares during the last quarter. Institutional investors and hedge funds 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.