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

Shares of Starbucks Co. (NASDAQ:SBUX) have received an average recommendation of “Moderate Buy” from the twenty-eight research firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $100.52.

SBUX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Bank of America increased their price target on shares of Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Finally, The Goldman Sachs Group started coverage on Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company.

Starbucks Price Performance

Shares of SBUX opened at $97.36 on Monday. Starbucks has a one year low of $71.55 and a one year high of $107.66. The company’s fifty day moving average price is $88.74 and its 200 day moving average price is $84.15. The company has a market capitalization of $110.28 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 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 posted $1.00 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Analysts anticipate that Starbucks will post 3.56 earnings per share for the current year.

Insider Transactions at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price 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 $3,316,143. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. Vima LLC acquired a new position in shares of Starbucks during the fourth quarter valued at $26,000. DSM Capital Partners LLC bought a new position in Starbucks in the fourth quarter valued at about $27,000. Fairman Group LLC acquired a new stake in Starbucks in the fourth quarter worth about $30,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the 2nd quarter worth about $25,000. 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.