Starbucks (NASDAQ:SBUX) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Key Points

• Robert W. Baird has raised Starbucks' (NASDAQ:SBUX) price target from $88.00 to $100.00, indicating a potential upside of 9.36% from the company's previous close, while maintaining a "neutral" rating.
• Despite the positive price target adjustment by Baird, Starbucks shares have decreased 1.6% during trading, closing at $91.44.
• Analysts have mixed sentiments towards Starbucks, with a consensus rating of "Hold" and reports from other institutions showing varied target price adjustments, including raises from Royal Bank of Canada and JPMorgan Chase.

Starbucks (NASDAQ:SBUX - Get Free Report) had its price objective upped by Robert W. Baird from $88.00 to $100.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the coffee company's stock. Robert W. Baird's target price suggests a potential upside of 16.53% from the company's current price.

A number of other research firms have also weighed in on SBUX. The Goldman Sachs Group reissued a "neutral" rating and issued a $95.00 target price (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Jefferies Financial Group downgraded Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a report on Thursday, July 17th. Barclays cut their target price on Starbucks from $108.00 to $106.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. Stifel Nicolaus increased their target price on Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Sanford C. Bernstein raised their target price on Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Starbucks has an average rating of "Hold" and an average target price of $101.27.

Starbucks Price Performance

Shares of SBUX stock traded down $3.34 on Wednesday, hitting $85.82. 4,649,662 shares of the company's stock were exchanged, compared to its average volume of 10,602,016. The stock has a market cap of $97.52 billion, a P/E ratio of 36.95, a price-to-earnings-growth ratio of 6.54 and a beta of 1.02. Starbucks has a 12 month low of $72.72 and a 12 month high of $117.46. The company has a 50 day moving average of $91.68 and a 200 day moving average of $94.62.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. Sell-side analysts predict that Starbucks will post 2.99 EPS for the current fiscal year.

Institutional Trading of Starbucks

A number of institutional investors and hedge funds have recently modified their holdings of the stock. First Command Advisory Services Inc. increased its stake in shares of Starbucks by 5.3% in the 2nd quarter. First Command Advisory Services Inc. now owns 5,369 shares of the coffee company's stock valued at $492,000 after acquiring an additional 271 shares during the last quarter. Banco Santander S.A. increased its stake in Starbucks by 41.3% during the 2nd quarter. Banco Santander S.A. now owns 100,215 shares of the coffee company's stock worth $9,183,000 after purchasing an additional 29,267 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Starbucks by 395.1% during the 2nd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,730 shares of the coffee company's stock worth $1,353,000 after purchasing an additional 11,755 shares in the last quarter. Solstein Capital LLC increased its stake in Starbucks by 335.2% during the 2nd quarter. Solstein Capital LLC now owns 1,384 shares of the coffee company's stock worth $127,000 after purchasing an additional 1,066 shares in the last quarter. Finally, MorganRosel Wealth Management LLC increased its stake in Starbucks by 82.0% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,110 shares of the coffee company's stock worth $102,000 after purchasing an additional 500 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.