Guggenheim Issues Positive Forecast for Starbucks (NASDAQ:SBUX) Stock Price

Key Points

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Starbucks (NASDAQ:SBUX - Get Free Report) had its target price raised by stock analysts at Guggenheim from $79.00 to $90.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the coffee company's stock. Guggenheim's price target would indicate a potential downside of 1.70% from the company's current price.

A number of other research analysts have also recently commented on the company. TD Securities restated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research note on Monday, June 23rd. Wall Street Zen lowered Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. TD Cowen boosted their price objective on Starbucks from $90.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday. The Goldman Sachs Group restated a "neutral" rating and issued a $95.00 target price (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Finally, UBS Group upped their price target on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of "Hold" and a consensus target price of $101.27.

Starbucks Price Performance

Shares of SBUX stock traded down $1.20 during trading hours on Thursday, reaching $91.56. 3,208,019 shares of the company's stock were exchanged, compared to its average volume of 10,550,752. The company has a market cap of $104.05 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 6.43 and a beta of 1.02. The company's 50 day moving average is $91.57 and its two-hundred day moving average is $94.65. Starbucks has a 1 year low of $72.72 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.29 billion. Starbucks had a negative return on equity of 36.43% and a net margin of 7.18%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. As a group, analysts predict that Starbucks will post 2.99 EPS for the current fiscal year.

Institutional Trading of Starbucks

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Starbucks by 0.9% during the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company's stock valued at $10,991,923,000 after purchasing an additional 953,361 shares during the last quarter. Capital World Investors raised its holdings in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock valued at $5,011,796,000 after buying an additional 9,174,682 shares in the last quarter. FMR LLC raised its holdings in Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after buying an additional 5,348,790 shares in the last quarter. Wellington Management Group LLP raised its holdings in Starbucks by 22.3% during the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock valued at $1,904,366,000 after buying an additional 3,545,655 shares in the last quarter. Finally, Nuveen LLC bought a new position in Starbucks during the first quarter valued at about $1,379,619,000. 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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