Starbucks (NASDAQ:SBUX) Upgraded by Sanford C. Bernstein to “Outperform”

Sanford C. Bernstein upgraded shares of Starbucks (NASDAQ:SBUX) from a market perform rating to an outperform rating in a report issued on Thursday morning, MarketBeat.com reports. They currently have $115.00 price objective on the coffee company’s stock, up from their previous price objective of $92.00.

SBUX has been the topic of several other research reports. JPMorgan Chase & Co. cut their price target on shares of Starbucks from $92.00 to $90.00 and set an overweight rating on the stock in a report on Wednesday, July 10th. Stifel Nicolaus raised shares of Starbucks from a hold rating to a buy rating and raised their target price for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Evercore ISI raised shares of Starbucks from an in-line rating to an outperform rating and upped their price target for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Citigroup lifted their price objective on Starbucks from $82.00 to $98.00 and gave the company a neutral rating in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group downgraded Starbucks from a hold rating to an underperform rating and lowered their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $100.52.

Starbucks Stock Down 0.1 %

SBUX stock opened at $97.36 on Thursday. Starbucks has a 52 week low of $71.55 and a 52 week high of $107.66. The stock 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. The firm has a 50 day moving average of $88.74 and a 200 day moving average of $84.15.

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

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 available through the SEC website. In other news, 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 completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

A number of institutional investors have recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in Starbucks by 7.9% during the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after acquiring an additional 122 shares during the period. Astoria Portfolio Advisors LLC. grew its holdings in shares of Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after purchasing an additional 127 shares in the last quarter. Carolinas Wealth Consulting LLC grew its holdings in shares of Starbucks by 4.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after purchasing an additional 133 shares in the last quarter. Edge Capital Group LLC increased its stake in Starbucks by 3.4% during the 4th quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after buying an additional 134 shares during the period. Finally, M&R Capital Management Inc. lifted its holdings in Starbucks by 30.9% during the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after buying an additional 134 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

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.