Starbucks (NASDAQ:SBUX) Given New $95.00 Price Target at Barclays

Key Points

• Barclays has reduced its price target for Starbucks shares from $115.00 to $95.00, maintaining an "overweight" rating, which suggests potential upside from the company's current price.
• Analyst consensus indicates a "Moderate Buy" rating for Starbucks, with an average price target of $101.80, following several other firms adjusting their price targets recently.
• Starbucks reported $0.50 earnings per share for the last quarter, missing estimates and showing a 3.8% revenue increase year-over-year, despite a significant decline from the previous year's EPS of $0.93.

Starbucks (NASDAQ:SBUX - Get Free Report) had its price target reduced by equities researchers at Barclays from $115.00 to $95.00 in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm presently has an "overweight" rating on the coffee company's stock. Barclays's target price would indicate a potential upside of 10.59% from the company's current price.

A number of other research firms have also weighed in on SBUX. Morgan Stanley set a $105.00 price objective on Starbucks and gave the stock an "overweight" rating in a research note on Monday. Evercore ISI reissued an "outperform" rating and set a $105.00 price target (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. BMO Capital Markets reissued an "outperform" rating and set a $115.00 price target (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Piper Sandler set a $105.00 price target on Starbucks and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Bank of America increased their price target on Starbucks from $101.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $101.80.

Starbucks Stock Up 1.6%

NASDAQ SBUX opened at $85.90 on Wednesday. The firm has a market cap of $97.64 billion, a price-to-earnings ratio of 37.03, a price-to-earnings-growth ratio of 4.24 and a beta of 1.01. The business has a 50-day moving average price of $85.42 and a 200-day moving average price of $87.40. Starbucks has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). The business 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 business's revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $0.93 EPS. Research analysts expect that Starbucks will post 2.99 EPS for the current fiscal year.

Institutional Trading of Starbucks

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Starbucks by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 112,861,623 shares of the coffee company's stock valued at $10,341,511,000 after buying an additional 802,053 shares during the period. State Street Corp raised its holdings in Starbucks by 1.2% during the 2nd quarter. State Street Corp now owns 47,513,332 shares of the coffee company's stock valued at $4,353,647,000 after buying an additional 544,534 shares during the period. Geode Capital Management LLC raised its holdings in Starbucks by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 25,846,634 shares of the coffee company's stock valued at $2,357,815,000 after buying an additional 99,983 shares during the period. Wellington Management Group LLP raised its holdings in Starbucks by 22.3% during the 1st 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 during the period. Finally, Nuveen LLC purchased a new stake in Starbucks during the 1st quarter valued at $1,379,619,000. 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.

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