Starbucks (NASDAQ:SBUX) Rating Reiterated by Oppenheimer

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

Several other research firms have also weighed in on SBUX. Piper Sandler cut their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Stifel Nicolaus dropped their price objective on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Gordon Haskett lowered Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, January 16th. BTIG Research dropped their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. dropped their price objective on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 19th. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $106.68.

Starbucks Price Performance

NASDAQ SBUX opened at $87.61 on Friday. Starbucks has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The stock’s 50-day moving average is $90.94 and its two-hundred day moving average is $94.43. The firm has a market cap of $99.19 billion, a P/E ratio of 23.43, a price-to-earnings-growth ratio of 1.41 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its 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). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the business earned $0.75 earnings per share. Starbucks’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts expect that Starbucks will post 4.03 EPS 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 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 sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 7,250 shares of company stock valued at $653,183. 1.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Willow Creek Wealth Management Inc. boosted its holdings in shares of Starbucks by 3.0% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after acquiring an additional 97 shares in the last quarter. Valley Brook Capital Group Inc. boosted its holdings in shares of Starbucks by 2.4% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after acquiring an additional 100 shares in the last quarter. Charles Schwab Investment Advisory Inc. raised its position in Starbucks by 4.6% in the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock worth $206,000 after purchasing an additional 100 shares during the last quarter. Herold Advisors Inc. raised its position in Starbucks by 4.3% in the 3rd quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after purchasing an additional 100 shares during the last quarter. Finally, Rodgers Brothers Inc. raised its position in Starbucks by 1.2% in the 3rd quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after purchasing an additional 100 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

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.