Starbucks (NASDAQ:SBUX) Stock Rating Reaffirmed by Robert W. Baird

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Starbucks (NASDAQ:SBUXGet Rating)‘s stock had its “neutral” rating reissued by Robert W. Baird in a report issued on Thursday, MarketBeat Ratings reports. They currently have a $83.00 target price on the coffee company’s stock. Robert W. Baird’s target price would indicate a potential downside of 3.18% from the company’s previous close.

Several other brokerages have also recently issued reports on SBUX. UBS Group increased their target price on Starbucks from $82.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday. Wedbush raised their price objective on Starbucks from $81.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday. Credit Suisse Group lowered their price objective on Starbucks from $122.00 to $103.00 in a research report on Wednesday, May 4th. MKM Partners lowered their price objective on Starbucks from $105.00 to $98.00 in a research report on Wednesday, May 4th. Finally, BMO Capital Markets lowered their price objective on Starbucks from $115.00 to $105.00 in a research report on Wednesday, May 4th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus target price of $102.92.

Starbucks Stock Down 1.3 %

Shares of NASDAQ:SBUX opened at $85.73 on Thursday. The stock has a market cap of $98.32 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.73 and a beta of 0.95. The business’s 50 day moving average is $78.88 and its 200 day moving average is $83.14. Starbucks has a 52-week low of $68.39 and a 52-week high of $120.76.

Starbucks (NASDAQ:SBUXGet Rating) last announced its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, sell-side analysts anticipate that Starbucks will post 2.85 EPS for the current fiscal year.

Insider Activity

In other Starbucks news, CEO Howard D. Schultz bought 72,500 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were purchased at an average cost of $68.85 per share, for a total transaction of $4,991,625.00. Following the transaction, the chief executive officer now directly owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Starbucks news, CEO Howard D. Schultz bought 137,500 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were purchased at an average cost of $72.67 per share, for a total transaction of $9,992,125.00. Following the transaction, the chief executive officer now directly owns 19,534,460 shares of the company’s stock, valued at $1,419,569,208.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Howard D. Schultz bought 72,500 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were acquired at an average price of $68.85 per share, for a total transaction of $4,991,625.00. Following the completion of the transaction, the chief executive officer now directly owns 19,606,960 shares in the company, valued at $1,349,939,196. The disclosure for this purchase can be found here. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Institutional investors have recently bought and sold shares of the company. Tobam acquired a new stake in Starbucks in the 1st quarter worth about $198,000. Essex LLC boosted its holdings in shares of Starbucks by 15.7% during the 1st quarter. Essex LLC now owns 46,017 shares of the coffee company’s stock worth $4,186,000 after purchasing an additional 6,233 shares during the last quarter. Cim LLC boosted its holdings in shares of Starbucks by 11.6% during the 1st quarter. Cim LLC now owns 4,036 shares of the coffee company’s stock worth $326,000 after purchasing an additional 420 shares during the last quarter. Opes Wealth Management LLC boosted its holdings in shares of Starbucks by 24.0% during the 1st quarter. Opes Wealth Management LLC now owns 3,111 shares of the coffee company’s stock worth $283,000 after purchasing an additional 603 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Starbucks by 65.2% during the 4th quarter. Benjamin Edwards Inc. now owns 1,513 shares of the coffee company’s stock worth $177,000 after purchasing an additional 597 shares during the last quarter. 69.21% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Company Profile

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

Further Reading

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