Starbucks (NASDAQ:SBUX) Receives Market Perform Rating from Oppenheimer

Starbucks (NASDAQ:SBUX - Get Free Report)'s stock had its "market perform" rating restated by investment analysts at Oppenheimer in a report released on Friday, Benzinga reports.

Other analysts also recently issued reports about the company. Wells Fargo & Company reissued an "overweight" rating and issued a $105.00 target price on shares of Starbucks in a research report on Monday, April 1st. Gordon Haskett lowered Starbucks from a "buy" rating to a "hold" rating and set a $100.00 price objective for the company. in a research note on Tuesday, January 16th. Piper Sandler dropped their price objective on Starbucks from $107.00 to $100.00 and set a "neutral" rating for the company in a research note on Friday, January 19th. Robert W. Baird dropped their price objective on Starbucks from $106.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 18th. Finally, Barclays dropped their price objective on Starbucks from $116.00 to $112.00 and set an "overweight" rating for the company in a research note on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $106.68.

Starbucks Trading Up 0.5 %

Shares of SBUX stock traded up $0.46 during trading on Friday, hitting $87.61. The company's stock had a trading volume of 11,898,220 shares, compared to its average volume of 8,456,940. The company has a market cap of $99.19 billion, a PE ratio of 23.43, a P/E/G ratio of 1.39 and a beta of 0.97. The business has a fifty day moving average of $90.94 and a 200-day moving average of $94.39. Starbucks has a 52 week low of $84.29 and a 52 week high of $115.48.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business's revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 earnings per share. As a group, research analysts predict that Starbucks will post 4.03 EPS for the current year.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the business's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 7,250 shares of company stock worth $653,183 in the last 90 days. Company insiders own 1.98% of the company's stock.

Institutional Trading of Starbucks

Large investors have recently bought and sold shares of the company. BCK Partners Inc. bought a new stake in shares of Starbucks in the 1st quarter worth approximately $2,640,000. American Century Companies Inc. boosted its position in shares of Starbucks by 7.3% in the 1st quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company's stock worth $2,514,000 after purchasing an additional 1,872 shares in the last quarter. Roundview Capital LLC boosted its position in shares of Starbucks by 37.5% in the 1st quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company's stock worth $651,000 after purchasing an additional 1,952 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Starbucks in the 1st quarter worth approximately $198,000. Finally, Mather Group LLC. boosted its position in shares of Starbucks by 77.5% in the 1st quarter. Mather Group LLC. now owns 6,912 shares of the coffee company's stock worth $629,000 after purchasing an additional 3,017 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

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.