Starbucks (NASDAQ:SBUX) Stock Rating Reaffirmed by Oppenheimer

Starbucks (NASDAQ:SBUX)‘s stock had its “market perform” rating reissued by research analysts at Oppenheimer in a note issued to investors on Friday, Benzinga reports.

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets cut their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Piper Sandler lowered their price objective on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. TD Cowen reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Starbucks in a research note on Thursday, April 11th. Wedbush reaffirmed a “neutral” rating and issued a $95.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Morgan Stanley decreased their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Fourteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Starbucks has an average rating of “Hold” and a consensus price target of $107.43.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded up $0.79 during trading on Friday, hitting $87.94. 3,482,560 shares of the company’s stock were exchanged, compared to its average volume of 8,341,360. The company has a market cap of $99.57 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.39 and a beta of 0.97. The business’s 50-day simple moving average is $91.14 and its 200 day simple moving average is $94.42. Starbucks has a 52-week low of $84.29 and a 52-week high of $115.48.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 EPS. On average, sell-side analysts anticipate that Starbucks will post 4.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders sold 7,250 shares of company stock valued at $653,183. 1.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Starbucks

Several hedge funds and other institutional investors have recently made changes to their positions in SBUX. Vima LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $27,000. Finally, Riggs Asset Managment Co. Inc. increased its holdings in shares of Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Company Profile

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.