Starbucks (NASDAQ:SBUX) Earns Buy Rating from TD Cowen

TD Cowen reissued their buy rating on shares of Starbucks (NASDAQ:SBUX) in a research note released on Thursday morning, Benzinga reports. TD Cowen currently has a $110.00 target price on the coffee company’s stock.

SBUX has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft raised Starbucks from a hold rating to a buy rating and raised their price objective for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Wedbush reissued a neutral rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. BMO Capital Markets raised their price objective on Starbucks from $100.00 to $110.00 and gave the company an outperform rating in a report on Monday, September 9th. Barclays raised their price objective on Starbucks from $93.00 to $110.00 and gave the company an overweight rating in a report on Wednesday, August 14th. Finally, Oppenheimer restated a market perform rating on shares of Starbucks in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $99.83.

Starbucks Stock Down 0.7 %

NASDAQ:SBUX opened at $98.57 on Thursday. The business’s 50-day moving average price is $84.39 and its two-hundred day moving average price is $83.86. Starbucks has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a market cap of $111.70 billion, a P/E ratio of 27.15, a PEG ratio of 2.38 and a beta of 0.96.

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

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the 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 completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Starbucks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter valued at approximately $25,000. Vima LLC bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. New Millennium Group LLC bought a new stake in shares of Starbucks in the 2nd quarter valued at approximately $26,000. Finally, Stephens Consulting LLC lifted its stake in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. 72.29% of the stock is 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.