Posted by Defense World Staff on Jun 15th, 2024
Starbucks Co. (NASDAQ:SBUX – Get Free Report) has received an average recommendation of “Hold” from the twenty-six analysts that are currently covering the firm, MarketBeat reports. Sixteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $95.00.
A number of equities research analysts recently commented on the stock. Wedbush reduced their price objective on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Citigroup decreased their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. HSBC dropped their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Morgan Stanley reduced their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Finally, UBS Group lowered their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st.
Get Our Latest Report on Starbucks
Insiders Place Their Bets
In related news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The disclosure for this sale can be found here. Insiders have sold 7,750 shares of company stock valued at $642,050 in the last ninety days. Insiders own 1.98% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBUX. Norges Bank purchased a new stake in shares of Starbucks during the 4th quarter worth about $1,240,652,000. Ontario Teachers Pension Plan Board purchased a new stake in Starbucks during the first quarter worth approximately $415,167,000. Flossbach Von Storch AG increased its position in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Capital World Investors purchased a new position in shares of Starbucks in the 1st quarter valued at $257,721,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Starbucks by 2,624.3% during the 1st quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after acquiring an additional 2,071,378 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.
Starbucks Trading Down 0.7 %
Starbucks stock opened at $79.65 on Friday. The stock has a 50 day moving average of $80.98 and a two-hundred day moving average of $89.37. Starbucks has a twelve month low of $71.80 and a twelve month high of $107.66. The stock has a market capitalization of $90.22 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.73 and a beta of 0.96.
Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share. Equities analysts predict that Starbucks will post 3.59 earnings per share for the current year.
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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