BMO Capital Markets Increases Starbucks (NASDAQ:SBUX) Price Target to $110.00

Starbucks (NASDAQ:SBUX) had its price target boosted by BMO Capital Markets from $100.00 to $110.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the coffee company’s stock. BMO Capital Markets’ target price points to a potential upside of 17.85% from the stock’s current price.

A number of other brokerages have also recently issued reports on SBUX. Citigroup increased their price objective on shares of Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group started coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective on the stock. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. decreased their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

Starbucks Price Performance

Shares of SBUX opened at $93.34 on Monday. Starbucks has a one year low of $71.55 and a one year high of $107.66. The company’s fifty day moving average price is $83.04 and its 200 day moving average price is $83.76. The company has a market capitalization of $105.73 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96.

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

Insider Transactions at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Insiders have sold a total of 9,790 shares of company stock valued at $865,514 over the last 90 days. 1.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Starbucks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lazari Capital Management Inc. raised its stake in shares of Starbucks by 13.0% during the 2nd quarter. Lazari Capital Management Inc. now owns 17,738 shares of the coffee company’s stock worth $1,381,000 after purchasing an additional 2,044 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Starbucks in the second quarter valued at $18,704,000. Coronation Fund Managers Ltd. bought a new position in shares of Starbucks in the 2nd quarter valued at about $2,043,000. Creekside Partners acquired a new position in shares of Starbucks during the 2nd quarter worth about $357,000. Finally, Brown Financial Advisors acquired a new stake in Starbucks in the 2nd quarter valued at about $1,375,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Company Profile

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.