Starbucks (NASDAQ:SBUX) Rating Increased to Outperform at Sanford C. Bernstein

Starbucks (NASDAQ:SBUX) was upgraded by Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, Marketbeat reports. The brokerage presently has a $115.00 target price on the coffee company’s stock, up from their previous target price of $92.00. Sanford C. Bernstein’s price objective suggests a potential upside of 18.12% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Citigroup increased their price target on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $100.52.

Starbucks Price Performance

Shares of SBUX opened at $97.36 on Thursday. The stock has a market capitalization of $110.33 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. Starbucks has a 1 year low of $71.55 and a 1 year high of $107.66. The business’s 50 day simple moving average is $88.38 and its 200-day simple moving average is $84.22.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts expect that Starbucks will post 3.56 earnings per share for the current year.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Starbucks

A number of large investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the second quarter valued at approximately $25,000. Vima LLC purchased a new stake in Starbucks in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new stake in Starbucks in the fourth quarter valued at approximately $26,000. New Millennium Group LLC purchased a new stake in Starbucks in the second quarter valued at approximately $26,000. Finally, Stephens Consulting LLC boosted its position in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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.