Starbucks Co. (NASDAQ:SBUX) Given Average Rating of “Hold” by Brokerages

Starbucks Co. (NASDAQ:SBUX – Get Rating) has been given an average recommendation of “Hold” by the twenty-eight research firms that are currently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $101.58.

SBUX has been the subject of a number of research analyst reports. Piper Sandler cut their price target on shares of Starbucks from $100.00 to $80.00 in a report on Wednesday, May 4th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and set a $95.00 target price for the company in a report on Wednesday, May 4th. Wedbush lowered Starbucks from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $105.00 to $91.00 in a research note on Tuesday, April 5th. UBS Group dropped their price objective on Starbucks from $105.00 to $86.00 and set a “neutral” rating for the company in a research note on Monday, April 25th. Finally, Credit Suisse Group dropped their price objective on Starbucks from $122.00 to $103.00 in a research note on Wednesday, May 4th.

In other news, CEO Howard D. Schultz bought 72,500 shares of Starbucks stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average price of $68.85 per share, for a total transaction of $4,991,625.00. Following the completion of the acquisition, the chief executive officer now owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Howard D. Schultz bought 137,500 shares of Starbucks stock in a transaction that occurred on Tuesday, May 10th. The stock was purchased at an average price of $72.67 per share, for a total transaction of $9,992,125.00. Following the acquisition, the chief executive officer now directly owns 19,534,460 shares of the company’s stock, valued at approximately $1,419,569,208.20. The disclosure for this purchase can be found here. 0.27% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in SBUX. Morgan Stanley lifted its stake in shares of Starbucks by 3.1% in the second quarter. Morgan Stanley now owns 13,016,786 shares of the coffee company’s stock worth $1,455,407,000 after acquiring an additional 396,104 shares in the last quarter. New World Advisors LLC acquired a new position in shares of Starbucks in the third quarter worth about $225,000. EagleClaw Capital Managment LLC raised its stake in Starbucks by 2.6% during the third quarter. EagleClaw Capital Managment LLC now owns 34,967 shares of the coffee company’s stock valued at $3,853,000 after buying an additional 902 shares in the last quarter. Legacy Wealth Planning LLC increased its holdings in shares of Starbucks by 32.1% in the 3rd quarter. Legacy Wealth Planning LLC now owns 2,911 shares of the coffee company’s stock valued at $321,000 after acquiring an additional 707 shares during the last quarter. Finally, Tudor Investment Corp Et Al raised its position in shares of Starbucks by 146.4% during the 3rd quarter. Tudor Investment Corp Et Al now owns 76,940 shares of the coffee company’s stock valued at $8,487,000 after acquiring an additional 45,720 shares in the last quarter. 69.21% of the stock is currently owned by institutional investors.

Shares of Starbucks stock opened at $71.87 on Tuesday. The company has a market cap of $82.43 billion, a P/E ratio of 19.27, a PEG ratio of 2.11 and a beta of 0.97. Starbucks has a one year low of $68.39 and a one year high of $126.32. The firm has a fifty day moving average of $75.82 and a two-hundred day moving average of $90.12.

Starbucks (NASDAQ:SBUX – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The coffee company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.60 billion. Starbucks had a negative return on equity of 53.43% and a net margin of 14.07%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. As a group, equities analysts anticipate that Starbucks will post 2.89 EPS for the current year.

About Starbucks (Get Rating)

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.

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