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

Starbucks (NASDAQ:SBUX) had its price target raised by JPMorgan Chase & Co. from $90.00 to $105.00 in a report published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the coffee company’s stock.

Several other analysts also recently issued reports on SBUX. Barclays boosted their price objective on Starbucks from $93.00 to $110.00 and gave the stock an overweight rating in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a hold rating to a buy rating and upped their price target for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Robert W. Baird upgraded shares of Starbucks from a neutral rating to an outperform rating and lifted their price objective for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. The Goldman Sachs Group began coverage on shares of Starbucks in a research note on Thursday, June 13th. They set a buy rating and a $100.00 target price on the stock. Finally, Morgan Stanley reiterated an overweight rating and set a $98.00 price target on shares of Starbucks in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $101.12.

Starbucks Price Performance

NASDAQ SBUX opened at $97.49 on Monday. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a market capitalization of $110.43 billion, a P/E ratio of 26.86, a PEG ratio of 2.26 and a beta of 0.96. The company’s 50 day simple moving average is $89.16 and its 200 day simple moving average is $84.19.

Starbucks (NASDAQ:SBUX) last posted its quarterly 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 company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 earnings per share. On average, analysts anticipate that Starbucks will post 3.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value 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 transaction 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 the business’s stock in a transaction dated 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 directly 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. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its position in Starbucks by 7.9% during the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after acquiring an additional 122 shares during the period. Astoria Portfolio Advisors LLC. increased its holdings in shares of Starbucks by 2.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after purchasing an additional 127 shares during the period. Edge Capital Group LLC raised its position 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 valued at $390,000 after buying an additional 134 shares during the last quarter. M&R Capital Management Inc. lifted its position in shares of Starbucks by 30.9% in the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after acquiring an additional 134 shares during the period. Finally, Fragasso Financial Advisors Inc grew its holdings in shares of Starbucks by 1.1% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock worth $999,000 after purchasing an additional 135 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

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.