Credit Suisse Group initiated coverage on shares of Starbucks (NASDAQ:SBUX) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $92.00 price target on the coffee company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 10.34% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. Wells Fargo & Co downgraded Starbucks from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $83.00 to $80.00 in a report on Friday, April 26th. They noted that the move was a valuation call. Barclays boosted their price target on Starbucks from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Bank of America set a $85.00 price target on Starbucks and gave the company a “buy” rating in a report on Friday, April 26th. Piper Jaffray Companies boosted their price target on Starbucks from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Finally, Evercore ISI assumed coverage on Starbucks in a report on Tuesday, June 11th. They issued an “in-line” rating and a $82.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $77.19.
SBUX stock opened at $83.38 on Tuesday. Starbucks has a 52-week low of $47.37 and a 52-week high of $85.20. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 7.73. The stock has a market cap of $102.04 billion, a P/E ratio of 34.45, a PEG ratio of 2.34 and a beta of 0.50. The business’s 50 day simple moving average is $79.83.
In related news, Director Myron E. Ullman III sold 9,973 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $76.12, for a total transaction of $759,144.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lucy Lee Helm sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $83.00, for a total value of $830,000.00. Following the transaction, the executive vice president now owns 113,455 shares of the company’s stock, valued at $9,416,765. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,910 shares of company stock valued at $6,578,788. 3.98% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Cipher Capital LP acquired a new position in Starbucks during the 4th quarter worth $2,261,000. Mark Sheptoff Financial Planning LLC acquired a new position in Starbucks during the 4th quarter worth $32,000. Mackay Shields LLC boosted its position in Starbucks by 55.0% during the 4th quarter. Mackay Shields LLC now owns 625,131 shares of the coffee company’s stock worth $40,259,000 after acquiring an additional 221,699 shares during the period. Hamel Associates Inc. boosted its position in Starbucks by 2.6% during the 1st quarter. Hamel Associates Inc. now owns 53,480 shares of the coffee company’s stock worth $3,976,000 after acquiring an additional 1,375 shares during the period. Finally, Smithfield Trust Co. boosted its position in Starbucks by 3.5% during the 1st quarter. Smithfield Trust Co. now owns 5,391 shares of the coffee company’s stock worth $400,000 after acquiring an additional 180 shares during the period. Hedge funds and other institutional investors own 71.60% of the company’s stock.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
Read More: Is a Roth IRA right for you?
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.