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TD Cowen Forecasts Strong Price Appreciation for Starbucks (NASDAQ:SBUX) Stock

Starbucks logo with Retail/Wholesale background

Key Points

  • TD Cowen has increased its price target for Starbucks (NASDAQ:SBUX) from $90 to $95, indicating a potential upside of 2.19% based on the stock's previous close.
  • Starbucks reported a quarterly earnings miss with $0.50 earnings per share, falling short of the consensus estimate of $0.64, despite a revenue increase of 3.8% year-over-year.
  • Analyst ratings on Starbucks vary, with four analysts rating it as a sell, eleven as hold, and fifteen as buy, resulting in a consensus rating of "Hold".
  • MarketBeat previews top five stocks to own in September.

Starbucks (NASDAQ:SBUX - Get Free Report) had its price target lifted by stock analysts at TD Cowen from $90.00 to $95.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the coffee company's stock. TD Cowen's price target suggests a potential upside of 10.26% from the company's previous close.

A number of other research analysts have also weighed in on the company. BMO Capital Markets reduced their price target on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. UBS Group reissued a "neutral" rating on shares of Starbucks in a research note on Monday, July 21st. Sanford C. Bernstein increased their price target on Starbucks from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada increased their price target on Starbucks from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Finally, Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target on the stock. in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and a consensus target price of $101.27.

Read Our Latest Analysis on SBUX

Starbucks Stock Performance

SBUX stock traded down $3.00 on Wednesday, reaching $86.16. The company had a trading volume of 3,852,098 shares, compared to its average volume of 10,588,565. Starbucks has a 1 year low of $72.72 and a 1 year high of $117.46. The company's fifty day moving average is $91.68 and its 200 day moving average is $94.62. The company has a market cap of $97.91 billion, a P/E ratio of 37.19, a PEG ratio of 6.54 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) 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 company had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same period in the previous year, the company posted $0.93 EPS. Starbucks's quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks will post 2.99 earnings per share for the current year.

Institutional Trading of Starbucks

Large investors have recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks during the fourth quarter valued at about $25,000. Game Plan Financial Advisors LLC acquired a new stake in shares of Starbucks during the second quarter valued at about $25,000. Chelsea Counsel Co. acquired a new stake in shares of Starbucks during the second quarter valued at about $26,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks during the first quarter valued at about $27,000. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company's stock valued at $28,000 after acquiring an additional 159 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

About Starbucks

(Get Free Report)

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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