Starbucks (NASDAQ:SBUX) Price Target Raised to $105.00 at JPMorgan Chase & Co.

Starbucks (NASDAQ:SBUX) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $90.00 to $105.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the coffee company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 7.77% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. Morgan Stanley restated an “overweight” rating and issued a $98.00 price target on shares of Starbucks in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.12.

Starbucks Price Performance

Shares of SBUX opened at $97.43 on Monday. The stock has a market capitalization of $110.41 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Starbucks has a 1 year low of $71.55 and a 1 year high of $107.66. The business’s 50 day simple moving average is $89.58 and its 200-day simple moving average is $84.24.

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

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction 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 owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SBUX. Versant Capital Management Inc increased its holdings in Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after buying an additional 122 shares during the last quarter. Astoria Portfolio Advisors LLC. raised 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 buying an additional 127 shares during the last quarter. Edge Capital Group LLC boosted its stake in shares of Starbucks by 3.4% during the fourth 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. M&R Capital Management Inc. grew its holdings in shares of Starbucks by 30.9% during the second 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 during the last quarter. Finally, Fragasso Financial Advisors Inc increased its position in Starbucks by 1.1% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock valued at $999,000 after acquiring an additional 135 shares during the period. 72.29% of the stock is currently owned by hedge funds and other 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.