Starbucks (NASDAQ:SBUX) Now Covered by Stifel Nicolaus

Investment analysts at Stifel Nicolaus initiated coverage on shares of Starbucks (NASDAQ:SBUX) in a research report issued on Monday. The firm set a “buy” rating and a $115.00 price target on the coffee company’s stock. Stifel Nicolaus‘s price objective suggests a potential upside of 6.57% from the stock’s current price.

Several other research analysts have also recently commented on the company. Stephens initiated coverage on Starbucks in a research note on Tuesday, November 3rd. They set an “equal weight” rating and a $39.00 target price for the company. Jefferies Financial Group upped their price target on Starbucks from $95.00 to $101.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Robert W. Baird reduced their price target on Starbucks from $124.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, October 2nd. Guggenheim reiterated a “neutral” rating and issued a $103.00 price objective (up from $97.00) on shares of Starbucks in a research note on Monday, November 2nd. Finally, BTIG Research reiterated a “buy” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, October 30th. Twenty-one analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $108.83.

Starbucks Stock Up 2.4%

SBUX stock traded up $2.50 during midday trading on Monday, hitting $107.91. The company’s stock had a trading volume of 429,311 shares, compared to its average volume of 8,142,626. The firm has a 50-day simple moving average of $99.15 and a 200-day simple moving average of $100.05. The firm has a market capitalization of $123.02 billion, a P/E ratio of 48.84, a PEG ratio of 1.74 and a beta of 1.01. Starbucks has a 52-week low of $81.97 and a 52-week high of $111.50.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, October 29th. The coffee company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.22 billion. Starbucks had a negative return on equity of 38.61% and a net margin of 6.66%. The company’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, sell-side analysts expect that Starbucks will post 3.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Starbucks news, CEO Brady Brewer sold 588 shares of Starbucks stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $100.00, for a total transaction of $58,800.00. Following the completion of the sale, the chief executive officer directly owned 70,920 shares of the company’s stock, valued at $7,092,000. The trade was a 0.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,458 shares of company stock valued at $449,684 in the last 90 days. 0.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $25,000. Black Cypress Capital Management LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at $27,000. Center for Financial Planning Inc. grew its position in shares of Starbucks by 125.2% in the 3rd quarter. Center for Financial Planning Inc. now owns 295 shares of the coffee company’s stock valued at $28,000 after buying an additional 164 shares during the last quarter. Financial Freedom LLC purchased a new position in shares of Starbucks in the 3rd quarter valued at $30,000. Finally, John Boyer Inc. purchased a new position in shares of Starbucks in the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Company Profile

Starbucks Corporation is a global coffee company that roasts, markets and sells coffee and other beverages, along with food and related merchandise. Its offerings include brewed coffee, espresso-based drinks, teas and packaged coffee products.

The company serves customers through company-operated and licensed stores, as well as through retail and food-service partnerships. Its stores also sell items such as mugs and coffee-making equipment.

Founded in Seattle in 1971, Starbucks operates in North America and international markets, including China.