Starbucks (NASDAQ:SBUX) Price Target Raised to $100.00

Starbucks (NASDAQ:SBUX - Get Free Report) had its price target increased by equities researchers at Sanford C. Bernstein from $90.00 to $100.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the coffee company's stock. Sanford C. Bernstein's price objective suggests a potential upside of 5.90% from the stock's previous close.

A number of other research analysts have also recently issued reports on the company. Guggenheim decreased their target price on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. TD Securities reissued a "hold" rating and set a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. Wall Street Zen downgraded Starbucks from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. TD Cowen reissued a "hold" rating and set a $90.00 price target on shares of Starbucks in a research report on Thursday, May 29th. Finally, Stifel Nicolaus cut their target price on Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $98.23.

Starbucks Stock Up 0.3%

SBUX traded up $0.25 during trading on Wednesday, hitting $94.43. The company's stock had a trading volume of 3,547,508 shares, compared to its average volume of 10,906,522. The firm's 50 day moving average price is $87.51 and its two-hundred day moving average price is $94.26. Starbucks has a 12 month low of $71.55 and a 12 month high of $117.46. The stock has a market capitalization of $107.31 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 4.86 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.68 earnings per share. On average, sell-side analysts forecast that Starbucks will post 2.99 earnings per share for the current year.

Institutional Investors Weigh In On Starbucks

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sage Capital Advisors llc increased its position in shares of Starbucks by 16.2% during the second quarter. Sage Capital Advisors llc now owns 3,282 shares of the coffee company's stock valued at $301,000 after acquiring an additional 457 shares in the last quarter. Norway Savings Bank boosted its stake in shares of Starbucks by 10.1% during the 2nd quarter. Norway Savings Bank now owns 11,029 shares of the coffee company's stock worth $1,011,000 after acquiring an additional 1,011 shares during the last quarter. First National Bank Sioux Falls increased its holdings in Starbucks by 10.5% in the 2nd quarter. First National Bank Sioux Falls now owns 6,641 shares of the coffee company's stock valued at $609,000 after acquiring an additional 633 shares during the last quarter. Rowlandmiller & PARTNERS.ADV increased its holdings in shares of Starbucks by 1.4% in the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 15,014 shares of the coffee company's stock worth $1,376,000 after buying an additional 210 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Starbucks in the 1st quarter worth about $4,110,000. Institutional investors 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.