Starbucks (NASDAQ:SBUX) Given Neutral Rating at Wedbush

Starbucks (NASDAQ:SBUXGet Free Report)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They currently have a $95.00 price target on the coffee company’s stock. Wedbush’s target price points to a potential upside of 0.98% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on SBUX. UBS Group dropped their price target on shares of Starbucks from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, October 12th. Citigroup dropped their price target on shares of Starbucks from $103.00 to $102.00 and set a “neutral” rating on the stock in a research note on Thursday, January 18th. Stephens reiterated an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a research note on Wednesday. Piper Sandler dropped their price target on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Starbucks in a research note on Thursday, October 19th. They issued a “buy” rating and a $118.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.23.

Check Out Our Latest Stock Report on SBUX

Starbucks Stock Up 0.3 %

Shares of SBUX opened at $94.08 on Wednesday. Starbucks has a 52 week low of $89.21 and a 52 week high of $115.48. The stock has a market cap of $106.52 billion, a P/E ratio of 26.28, a P/E/G ratio of 1.44 and a beta of 0.98. The business’s 50 day moving average price is $95.81 and its 200-day moving average price is $96.96.

Starbucks (NASDAQ:SBUXGet Free Report) last released its earnings results on Tuesday, January 30th. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.04). The company had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 48.79% and a net margin of 11.47%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. On average, equities analysts anticipate that Starbucks will post 4.1 EPS for the current year.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 504 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $105.66, for a total value of $53,252.64. Following the transaction, the chief financial officer now owns 75,027 shares in the company, valued at approximately $7,927,352.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Starbucks news, EVP Sara Kelly sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $104.45, for a total transaction of $26,112.50. Following the sale, the executive vice president now owns 47,532 shares in the company, valued at approximately $4,964,717.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Rachel Ruggeri sold 504 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $105.66, for a total transaction of $53,252.64. Following the sale, the chief financial officer now owns 75,027 shares in the company, valued at approximately $7,927,352.82. The disclosure for this sale can be found here. Insiders have sold 7,754 shares of company stock worth $807,565 in the last quarter. Company insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBUX. Freedom Wealth Alliance LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. Riggs Asset Managment Co. Inc. raised its position in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after buying an additional 300 shares during the last quarter. Moser Wealth Advisors LLC bought a new stake in shares of Starbucks during the second quarter valued at approximately $30,000. WFA of San Diego LLC bought a new stake in shares of Starbucks during the second quarter valued at approximately $30,000. Finally, Solstein Capital LLC raised its position in shares of Starbucks by 67.4% during the second quarter. Solstein Capital LLC now owns 318 shares of the coffee company’s stock valued at $32,000 after buying an additional 128 shares during the last quarter. Institutional investors own 70.13% of the company’s stock.

About Starbucks

(Get Free Report)

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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