Starbucks Co. (NASDAQ:SBUX) Given Average Recommendation of “Hold” by Brokerages

Posted by on Jun 21st, 2022

Shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) have been assigned an average rating of “Hold” from the twenty-eight ratings firms that are currently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $101.58.

SBUX has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and set a $101.00 target price on the stock in a report on Wednesday, March 16th. Credit Suisse Group dropped their target price on shares of Starbucks from $122.00 to $103.00 in a report on Wednesday, May 4th. Cowen dropped their target price on shares of Starbucks from $115.00 to $94.00 in a report on Wednesday, May 4th. BMO Capital Markets dropped their price target on shares of Starbucks from $115.00 to $105.00 in a research note on Wednesday, May 4th. Finally, Wedbush cut shares of Starbucks from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $105.00 to $91.00 in a research note on Tuesday, April 5th.

NASDAQ:SBUX opened at $71.87 on Tuesday. The company’s 50 day moving average price is $75.82 and its 200-day moving average price is $90.12. Starbucks has a 52 week low of $68.39 and a 52 week high of $126.32. The stock has a market cap of $82.43 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 2.11 and a beta of 0.97.

Starbucks (NASDAQ:SBUX – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The coffee company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Starbucks had a net margin of 14.07% and a negative return on equity of 53.43%. The firm had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.60 billion. During the same quarter in the previous year, the company earned $0.62 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts forecast that Starbucks will post 2.89 EPS for the current year.

In related news, CEO Howard D. Schultz acquired 72,500 shares of the stock in a transaction dated Thursday, May 12th. The stock was acquired at an average cost of $68.85 per share, with a total value of $4,991,625.00. Following the purchase, the chief executive officer now directly owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Howard D. Schultz acquired 137,500 shares of the stock in a transaction dated Tuesday, May 10th. The stock was bought at an average cost of $72.67 per share, with a total value of $9,992,125.00. Following the completion of the purchase, the chief executive officer now directly owns 19,534,460 shares in the company, valued at $1,419,569,208.20. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of SBUX. Steward Financial Group LLC purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $25,000. PYA Waltman Capital LLC purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $25,000. Rational Advisors LLC raised its holdings in shares of Starbucks by 141.4% in the fourth quarter. Rational Advisors LLC now owns 210 shares of the coffee company’s stock worth $25,000 after buying an additional 123 shares during the period. Guardian Wealth Management Inc. purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $25,000. Finally, Bromfield Sneider Wealth Advisors purchased a new stake in shares of Starbucks in the first quarter worth approximately $25,000. Hedge funds and other institutional investors own 69.21% of the company’s stock.

About Starbucks (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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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Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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