Starbucks (NASDAQ:SBUX) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Starbucks (NASDAQ:SBUX) had its price target raised by Sanford C. Bernstein from $90.00 to $100.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the coffee company’s stock.

A number of other research analysts have also commented on SBUX. Wells Fargo & Company cut their price target on Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Guggenheim cut their price target on Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Evercore ISI restated an “outperform” rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. TD Cowen restated a “hold” rating and issued a $90.00 target price on shares of Starbucks in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. cut their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $98.23.

Starbucks Stock Up 0.3%

Shares of SBUX stock opened at $94.44 on Wednesday. Starbucks has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market cap of $107.32 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02. The stock has a 50 day moving average of $87.93 and a 200-day moving average of $94.28.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Starbucks will post 2.99 EPS for the current fiscal year.

Institutional Trading of Starbucks

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in shares of Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Starbucks by 1.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 132,551 shares of the coffee company’s stock worth $12,095,000 after purchasing an additional 1,763 shares during the last quarter. Keybank National Association OH grew its holdings in shares of Starbucks by 9.5% during the fourth quarter. Keybank National Association OH now owns 273,228 shares of the coffee company’s stock worth $24,932,000 after purchasing an additional 23,714 shares during the last quarter. Carrera Capital Advisors grew its holdings in shares of Starbucks by 3.2% during the fourth quarter. Carrera Capital Advisors now owns 6,522 shares of the coffee company’s stock worth $595,000 after purchasing an additional 204 shares during the last quarter. Finally, Laffer Tengler Investments Inc. grew its holdings in shares of Starbucks by 21.0% during the fourth quarter. Laffer Tengler Investments Inc. now owns 69,902 shares of the coffee company’s stock worth $6,379,000 after purchasing an additional 12,148 shares during 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.