Starbucks (NASDAQ:SBUX) Receives “Buy” Rating from BTIG Research

Starbucks (NASDAQ:SBUX)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $105.00 price objective on the coffee company’s stock. BTIG Research’s price objective points to a potential upside of 8.89% from the stock’s current price.

Other equities analysts have also issued reports about the company. Sanford C. Bernstein set a $100.00 price objective on Starbucks and gave the stock an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Starbucks in a research report on Monday, December 29th. Barclays reaffirmed an “overweight” rating and issued a $110.00 price target (up previously from $95.00) on shares of Starbucks in a report on Wednesday, January 7th. TD Cowen reiterated a “hold” rating and issued a $84.00 price target on shares of Starbucks in a research report on Monday, December 1st. Finally, Citigroup upgraded Starbucks from a “neutral” rating to a “positive” rating in a report on Thursday, January 15th. Sixteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $103.15.

Starbucks Trading Up 3.0%

SBUX stock opened at $96.43 on Thursday. The stock has a 50-day moving average price of $86.56 and a two-hundred day moving average price of $87.08. The company has a market cap of $109.65 billion, a PE ratio of 58.80, a price-to-earnings-growth ratio of 1.97 and a beta of 0.97. Starbucks has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The company had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same period last year, the firm posted $0.80 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Equities analysts forecast that Starbucks will post 2.99 EPS for the current fiscal year.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 11,700 shares of the company’s stock in a transaction on Monday, November 10th. The stock was bought at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the transaction, the director owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. The trade was a 28.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Starbucks

Several hedge funds have recently made changes to their positions in SBUX. Capital Investment Advisory Services LLC boosted its position in Starbucks by 4.4% during the fourth quarter. Capital Investment Advisory Services LLC now owns 9,479 shares of the coffee company’s stock valued at $798,000 after purchasing an additional 398 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in Starbucks in the 4th quarter valued at $263,000. Oak Thistle LLC acquired a new position in Starbucks in the 4th quarter valued at $1,149,000. Palumbo Wealth Management LLC increased its position in Starbucks by 9.9% during the 4th quarter. Palumbo Wealth Management LLC now owns 3,488 shares of the coffee company’s stock worth $294,000 after buying an additional 315 shares during the period. Finally, Perfromance Wealth Partners LLC boosted its stake in shares of Starbucks by 13.1% in the fourth quarter. Perfromance Wealth Partners LLC now owns 4,764 shares of the coffee company’s stock valued at $401,000 after buying an additional 551 shares during the period. 72.29% of the stock is owned by institutional investors.

About Starbucks

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.