CICC Research Begins Coverage on Starbucks (NASDAQ:SBUX)

Equities researchers at CICC Research began coverage on shares of Starbucks (NASDAQ:SBUX - Get Free Report) in a research note issued to investors on Monday,Benzinga reports. The firm set an "outperform" rating and a $100.00 price target on the coffee company's stock. CICC Research's price objective would suggest a potential upside of 8.57% from the company's current price.

Several other research analysts have also recently commented on SBUX. TD Securities reaffirmed a "hold" rating and issued a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. UBS Group reduced their price objective on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Barclays reissued an "overweight" rating and issued a $108.00 target price (up previously from $98.00) on shares of Starbucks in a research note on Thursday. Stifel Nicolaus cut their price target on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Citigroup lifted their price objective on Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, June 12th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $98.81.

Starbucks Stock Performance

Shares of SBUX opened at $92.11 on Monday. The company has a 50-day simple moving average of $86.80 and a 200-day simple moving average of $94.29. Starbucks has a 52 week low of $71.55 and a 52 week high of $117.46. The firm has a market capitalization of $104.67 billion, a P/E ratio of 33.37, a P/E/G ratio of 4.73 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the company earned $0.68 EPS. The company's revenue was up 2.3% on a year-over-year basis. As a group, equities analysts forecast that Starbucks will post 2.99 earnings per share for the current year.

Institutional Investors Weigh In On Starbucks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock valued at $16,126,000 after purchasing an additional 81,952 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Starbucks in the 4th quarter valued at $389,000. Noble Wealth Management PBC acquired a new stake in shares of Starbucks in the 4th quarter valued at $30,000. Smartleaf Asset Management LLC raised its position in shares of Starbucks by 63.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 18,767 shares of the coffee company's stock worth $1,700,000 after acquiring an additional 7,292 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Starbucks during the fourth quarter valued at $62,000. Institutional investors and hedge funds own 72.29% of the company's stock.

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.

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