Starbucks (NASDAQ:SBUX) Given New $115.00 Price Target at Morgan Stanley

Starbucks (NASDAQ:SBUX) had its target price lifted by Morgan Stanley from $98.00 to $115.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the coffee company’s stock.

SBUX has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Citigroup raised their target price on Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Finally, Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.84.

Starbucks Stock Performance

Shares of SBUX opened at $95.46 on Wednesday. The firm has a market cap of $108.13 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The business has a 50-day moving average of $94.08 and a 200 day moving average of $84.62.

Starbucks (NASDAQ:SBUX) last posted 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 firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $1.00 earnings per share. As a group, research analysts predict that Starbucks will post 3.55 earnings per share for the current fiscal year.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SBUX. Astoria Portfolio Advisors LLC. grew its position in shares of Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after buying an additional 127 shares during the last quarter. Keystone Wealth Services LLC increased its position in Starbucks by 1.3% during the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock valued at $990,000 after purchasing an additional 130 shares during the period. M&R Capital Management Inc. raised its holdings in 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 purchasing an additional 134 shares in the last quarter. Fragasso Financial Advisors Inc lifted its position in shares of Starbucks by 1.1% in 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 during the period. Finally, Pinnacle West Asset Management Inc. boosted its stake in shares of Starbucks by 1.8% during the 2nd quarter. Pinnacle West Asset Management Inc. now owns 7,495 shares of the coffee company’s stock valued at $583,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other 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.