Starbucks (NASDAQ:SBUX - Get Free Report) had its price objective increased by stock analysts at The Goldman Sachs Group from $85.00 to $95.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the coffee company's stock. The Goldman Sachs Group's price objective would indicate a potential upside of 1.79% from the company's previous close.
Several other brokerages also recently commented on SBUX. Baird R W downgraded Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. UBS Group reduced their price objective on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. Robert W. Baird restated a "neutral" rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Finally, Stifel Nicolaus decreased their price objective on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Starbucks has an average rating of "Hold" and a consensus target price of $98.96.
Check Out Our Latest Report on Starbucks
Starbucks Price Performance
Shares of SBUX traded down $0.99 during mid-day trading on Thursday, hitting $93.33. The company's stock had a trading volume of 708,629 shares, compared to its average volume of 11,023,270. The firm has a 50-day moving average price of $84.89 and a 200 day moving average price of $94.98. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock has a market capitalization of $106.06 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 3.59 and a beta of 1.00.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the firm posted $0.68 EPS. The company's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Starbucks will post 2.99 EPS for the current fiscal year.
Institutional Trading of Starbucks
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Starbucks by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company's stock valued at $10,991,923,000 after purchasing an additional 953,361 shares in the last quarter. Capital World Investors grew its holdings in shares of Starbucks by 20.1% during the fourth 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 during the last quarter. FMR LLC raised its holdings in shares of Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock valued at $2,292,989,000 after buying an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC lifted its position in Starbucks by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company's stock worth $2,259,516,000 after buying an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP grew 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 worth $1,904,366,000 after acquiring an additional 3,545,655 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.
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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