Starbucks (NASDAQ:SBUX) Lifted to Outperform at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Starbucks (NASDAQ:SBUX) from a market perform rating to an outperform rating in a research note published on Thursday morning, MarketBeat reports. They currently have $115.00 price objective on the coffee company’s stock, up from their prior price objective of $92.00.

A number of other research firms also recently commented on SBUX. Barclays increased their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an overweight rating in a research report on Wednesday, August 14th. TD Cowen reiterated a buy rating and set a $110.00 target price on shares of Starbucks in a research report on Thursday, September 12th. Oppenheimer reissued a market perform rating on shares of Starbucks in a research report on Monday, August 26th. Baird R W raised Starbucks from a hold rating to a strong-buy rating in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group began coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a buy rating and a $100.00 target price on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of Moderate Buy and a consensus price target of $100.52.

Starbucks Price Performance

NASDAQ:SBUX opened at $97.36 on Thursday. The firm has a market capitalization of $110.28 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The business’s fifty day moving average price is $88.74 and its 200 day moving average price is $84.15. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its 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 business had revenue of $9.11 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $1.00 EPS. As a group, equities analysts anticipate that Starbucks will post 3.56 EPS for the current year.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred 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 directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $26,000. Vima LLC purchased a new position in Starbucks during the fourth quarter worth about $26,000. Fairman Group LLC purchased a new stake in Starbucks in the 4th quarter valued at about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the 2nd quarter valued at about $25,000. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Starbucks by 150.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after acquiring an additional 198 shares during the period. 72.29% of the stock is currently owned by hedge funds and other 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.