Barclays Lowers Starbucks (NASDAQ:SBUX) Price Target to $108.00

Starbucks (NASDAQ:SBUX) had its target price reduced by Barclays from $110.00 to $108.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the coffee company’s stock. Barclays‘s price target indicates a potential upside of 9.23% from the stock’s previous close.

SBUX has been the topic of a number of other research reports. Citigroup lowered their price target on Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. BTIG Research upped their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Finally, Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and upped their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $103.32.

Starbucks Trading Up 1.2 %

NASDAQ SBUX opened at $98.87 on Thursday. The business’s 50 day moving average is $95.98 and its two-hundred day moving average is $85.47. Starbucks has a 12-month low of $71.55 and a 12-month high of $107.66. The stock has a market capitalization of $112.04 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.63 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 45.15% and a net margin of 10.40%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 EPS. Equities analysts forecast that Starbucks will post 3.45 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 transaction of $299,916.40. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 transaction of $299,916.40. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Starbucks by 95.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 312,309 shares of the coffee company’s stock valued at $28,542,000 after buying an additional 152,849 shares during the last quarter. Kovack Advisors Inc. raised its holdings in shares of Starbucks by 1.8% during the first quarter. Kovack Advisors Inc. now owns 8,019 shares of the coffee company’s stock valued at $733,000 after buying an additional 140 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Starbucks during the first quarter valued at approximately $2,299,000. Prosperity Consulting Group LLC bought a new stake in shares of Starbucks during the first quarter valued at approximately $268,000. Finally, Blue Trust Inc. raised its holdings in shares of Starbucks by 25.2% during the first quarter. Blue Trust Inc. now owns 7,246 shares of the coffee company’s stock valued at $662,000 after buying an additional 1,460 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

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.