Morgan Stanley Increases Starbucks (NASDAQ:SBUX) Price Target to $100.00

Starbucks (NASDAQ:SBUXGet Rating) had its price target increased by research analysts at Morgan Stanley from $96.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the coffee company’s stock. Morgan Stanley’s price objective suggests a potential downside of 4.09% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Evercore ISI upped their price target on Starbucks from $95.00 to $97.00 in a report on Friday, November 4th. Jefferies Financial Group cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Wednesday, December 21st. Stephens began coverage on Starbucks in a report on Thursday, September 22nd. They issued an “equal weight” rating and a $91.00 price target for the company. Deutsche Bank Aktiengesellschaft cut Starbucks from a “buy” rating to a “hold” rating and upped their price target for the stock from $100.00 to $106.00 in a report on Monday, December 5th. Finally, Barclays upped their target price on Starbucks from $105.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, January 5th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $103.83.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $104.26 on Wednesday. Starbucks has a 1 year low of $68.39 and a 1 year high of $107.60. The stock has a market capitalization of $119.67 billion, a P/E ratio of 36.97, a PEG ratio of 2.26 and a beta of 0.89. The stock has a 50-day simple moving average of $101.24 and a 200-day simple moving average of $91.20.

Starbucks (NASDAQ:SBUXGet Rating) last issued its earnings results on Thursday, November 3rd. The coffee company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Starbucks had a negative return on equity of 39.85% and a net margin of 10.18%. The business had revenue of $8.41 billion during the quarter, compared to analysts’ expectations of $8.43 billion. Analysts predict that Starbucks will post 3.42 earnings per share for the current year.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 15,320 shares of the stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $99.14, for a total value of $1,518,824.80. Following the sale, the insider now directly owns 68,579 shares of the company’s stock, valued at $6,798,922.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Rachel Ruggeri sold 3,960 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $106.50, for a total value of $421,740.00. Following the completion of the transaction, the chief financial officer now owns 57,962 shares of the company’s stock, valued at $6,172,953. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Aaron Conway sold 15,320 shares of the stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $99.14, for a total value of $1,518,824.80. Following the completion of the transaction, the insider now directly owns 68,579 shares of the company’s stock, valued at approximately $6,798,922.06. The disclosure for this sale can be found here. Insiders have sold 26,280 shares of company stock valued at $2,663,595 over the last three months. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. BCK Partners Inc. bought a new position in Starbucks during the first quarter valued at about $2,640,000. American Century Companies Inc. boosted its stake in Starbucks by 7.3% during the first quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock valued at $2,514,000 after buying an additional 1,872 shares in the last quarter. Roundview Capital LLC boosted its stake in Starbucks by 37.5% during the first quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after buying an additional 1,952 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Starbucks during the first quarter valued at about $198,000. Finally, Mather Group LLC. boosted its stake in Starbucks by 77.5% during the first quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock valued at $629,000 after buying an additional 3,017 shares in the last quarter. Institutional investors own 69.16% of the company’s stock.

Starbucks Company Profile

(Get Rating)

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.

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