Starbucks (NASDAQ:SBUX) Upgraded at Robert W. Baird

Key Points

• Starbucks has been upgraded by Robert W. Baird from a "neutral" rating to an "outperform" rating, with a new price target of $115.00 suggesting a potential upside of 25.35%.
• Despite the upgrade, Starbucks shares experienced a slight decline of 0.4% on the trading day, opening at $91.74.
• The company reported quarterly earnings of $0.50 per share, falling short of analysts' expectations of $0.64, while revenue was up 3.8% year-over-year.

Starbucks (NASDAQ:SBUX - Get Free Report) was upgraded by equities researchers at Robert W. Baird from a "neutral" rating to an "outperform" rating in a research report issued on Tuesday, MarketBeat.com reports. The brokerage presently has a $115.00 price objective on the coffee company's stock, up from their prior price objective of $100.00. Robert W. Baird's target price would suggest a potential upside of 25.35% from the company's previous close.

SBUX has been the subject of a number of other reports. UBS Group lifted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Evercore ISI reissued an "outperform" rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. The Goldman Sachs Group reissued a "neutral" rating and issued a $95.00 price objective (up from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. JPMorgan Chase & Co. lifted their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Citigroup decreased their price objective on shares of Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $101.85.

Starbucks Stock Down 0.4%

Shares of SBUX stock opened at $91.74 on Tuesday. Starbucks has a 12-month low of $75.50 and a 12-month high of $117.46. The firm has a 50 day moving average price of $92.40 and a two-hundred day moving average price of $94.32. The company has a market capitalization of $104.28 billion, a PE ratio of 39.54, a price-to-earnings-growth ratio of 5.25 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results 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). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the firm posted $0.93 earnings per share. The firm's quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts expect that Starbucks will post 2.99 EPS for the current year.

Institutional Trading of Starbucks

A number of institutional investors have recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Starbucks during the 1st quarter worth about $1,379,619,000. Capital World Investors boosted its position in shares of Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Starbucks during the 1st quarter worth about $817,759,000. Polen Capital Management LLC bought a new position in shares of Starbucks during the 1st quarter worth about $503,539,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. 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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