Starbucks (NASDAQ:SBUX) Earns Buy Rating from TD Cowen

TD Cowen reiterated their buy rating on shares of Starbucks (NASDAQ:SBUX) in a research report report published on Thursday morning, Benzinga reports. They currently have a $110.00 target price on the coffee company’s stock.

Several other research firms have also recently weighed in on SBUX. Baird R W upgraded Starbucks from a hold rating to a strong-buy rating in a report on Tuesday, August 13th. Stifel Nicolaus upgraded Starbucks from a hold rating to a buy rating and upped their target price for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a hold rating to a buy rating and upped their target price for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Bank of America upped their target price on Starbucks from $108.00 to $112.00 and gave the company a buy rating in a report on Monday, June 10th. Finally, Oppenheimer reiterated a market perform rating on shares of Starbucks in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of Moderate Buy and an average target price of $99.83.

Starbucks Stock Down 0.7 %

Starbucks stock opened at $98.57 on Thursday. Starbucks has a 12-month low of $71.55 and a 12-month high of $107.66. The business’s 50-day moving average price is $84.39 and its two-hundred day moving average price is $83.86. The stock has a market cap of $111.70 billion, a PE ratio of 27.15, a P/E/G ratio of 2.38 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting 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 business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 earnings per share. As a group, analysts expect that Starbucks will post 3.56 earnings per share for the current year.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks during the 2nd quarter worth about $25,000. Vima LLC purchased a new stake in Starbucks during the 4th quarter worth about $26,000. Scarborough Advisors LLC purchased a new stake in Starbucks during the 4th quarter worth about $26,000. New Millennium Group LLC purchased a new stake in Starbucks during the 2nd quarter worth about $26,000. Finally, Stephens Consulting LLC lifted its holdings in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

About Starbucks

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.