Starbucks (NASDAQ:SBUX) Given New $84.00 Price Target at TD Cowen

Key Points

• TD Cowen has lowered its price target for Starbucks from $88.00 to $84.00, maintaining a "hold" rating on the stock, which suggests a potential upside of 5.61% from the previous close.
• Bank of America recently increased its target price for Starbucks from $101.00 to $110.00, giving the company a "buy" rating, while Goldman Sachs set a new target at $95.00 with a "neutral" rating.
• Starbucks reported a net margin of 7.18% and earnings per share of $0.50 for its last quarter, missing the consensus estimate of $0.64.

Starbucks (NASDAQ:SBUX - Get Free Report) had its price objective lowered by investment analysts at TD Cowen from $88.00 to $84.00 in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm presently has a "hold" rating on the coffee company's stock. TD Cowen's price target points to a potential upside of 5.61% from the company's previous close.

Several other research analysts have also commented on SBUX. Bank of America upped their target price on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 18th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $95.00 target price (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Guggenheim upped their target price on Starbucks from $79.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Citigroup raised Starbucks from a "neutral" rating to a "mixed" rating in a research report on Thursday. Finally, Cowen reaffirmed a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Starbucks currently has an average rating of "Moderate Buy" and an average target price of $103.56.

Starbucks Stock Performance

NASDAQ SBUX traded down $0.25 on Friday, reaching $79.54. 5,104,292 shares of the stock traded hands, compared to its average volume of 10,228,090. The company has a fifty day moving average price of $86.65 and a 200-day moving average price of $88.14. The company has a market cap of $90.41 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 3.95 and a beta of 1.01. Starbucks has a 12 month low of $75.50 and a 12 month 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 EPS 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 the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 earnings per share. As a group, research analysts anticipate that Starbucks will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Starbucks

Hedge funds have recently bought and sold shares of the business. PUREfi Wealth LLC acquired a new position in shares of Starbucks during the second quarter valued at approximately $286,000. Narwhal Capital Management raised its holdings in shares of Starbucks by 39.6% during the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company's stock valued at $3,000,000 after acquiring an additional 9,282 shares during the last quarter. Napa Wealth Management acquired a new position in shares of Starbucks during the first quarter valued at approximately $1,435,000. Personal CFO Solutions LLC raised its holdings in shares of Starbucks by 125.5% during the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after acquiring an additional 5,151 shares during the last quarter. Finally, First Manhattan CO. LLC. raised its holdings in shares of Starbucks by 33.1% during the first quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock valued at $43,777,000 after acquiring an additional 111,015 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.