Starbucks’ (SBUX) “Buy” Rating Reaffirmed at BTIG Research

Starbucks (NASDAQ:SBUX)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a note issued to investors on Thursday,Benzinga reports. They presently have a $105.00 target price on the coffee company’s stock. BTIG Research’s target price indicates a potential upside of 8.89% from the company’s previous close.

Several other research analysts have also commented on SBUX. Mizuho set a $86.00 price objective on shares of Starbucks and gave the stock a “neutral” rating in a report on Friday, January 9th. TD Cowen restated a “hold” rating and issued a $84.00 price objective on shares of Starbucks in a research note on Monday, December 1st. Citigroup raised shares of Starbucks from a “neutral” rating to a “positive” rating in a report on Thursday, January 15th. BMO Capital Markets restated an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Finally, Royal Bank Of Canada set a $100.00 price objective on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Starbucks has an average rating of “Hold” and an average price target of $103.15.

Starbucks Price Performance

NASDAQ:SBUX opened at $96.43 on Thursday. Starbucks has a 1 year low of $75.50 and a 1 year high of $117.46. The business has a fifty day simple moving average of $86.56 and a two-hundred day simple moving average of $87.08. The company has a market capitalization of $109.65 billion, a P/E ratio of 58.80, a P/E/G ratio of 1.97 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The firm had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. During the same period in the prior year, the firm posted $0.80 EPS. Starbucks’s revenue was up 5.5% on a year-over-year basis. As a group, analysts anticipate that Starbucks will post 2.99 earnings per share for the current year.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the transaction, the director owned 53,096 shares of the company’s stock, valued at $4,513,160. The trade was a 28.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Starbucks

Large investors have recently modified their holdings of the business. Game Plan Financial Advisors LLC acquired a new position in Starbucks in the 2nd quarter valued at about $25,000. Transce3nd LLC grew its stake in Starbucks by 270.3% during the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after buying an additional 200 shares during the last quarter. Chelsea Counsel Co. purchased a new stake in Starbucks in the 2nd quarter valued at $26,000. Collier Financial acquired a new stake in shares of Starbucks during the third quarter worth about $25,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Starbucks in the 3rd quarter valued at approximately $26,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

About Starbucks

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.