The Goldman Sachs Group Initiates Coverage on Starbucks (NASDAQ:SBUX)

The Goldman Sachs Group began coverage on shares of Starbucks (NASDAQ:SBUX) in a report published on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $100.00 price target on the coffee company’s stock.

Several other analysts also recently commented on the company. Robert W. Baird dropped their price objective on Starbucks from $106.00 to $100.00 and set a neutral rating on the stock in a research note on Monday, March 18th. Wedbush dropped their price objective on Starbucks from $95.00 to $92.00 and set a neutral rating on the stock in a research note on Friday, April 26th. DZ Bank downgraded Starbucks from a buy rating to a hold rating and set a $75.00 price objective on the stock. in a research note on Friday, May 3rd. UBS Group dropped their price objective on Starbucks from $95.00 to $85.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Finally, BTIG Research dropped their price objective on Starbucks from $115.00 to $100.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $95.00.

Starbucks Stock Down 0.7 %

SBUX stock opened at $79.65 on Thursday. The business’s fifty day moving average is $80.98 and its 200-day moving average is $89.29. The company has a market cap of $90.22 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 1.75 and a beta of 0.96. Starbucks has a twelve month low of $71.80 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. Research analysts anticipate that Starbucks will post 3.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,750 shares of company stock worth $642,050. Company insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Several hedge funds have recently bought and sold shares of SBUX. Willow Creek Wealth Management Inc. raised its position in shares of Starbucks by 3.0% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after buying an additional 97 shares in the last quarter. Rodgers Brothers Inc. grew its holdings in shares of Starbucks by 1.2% during the 3rd quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock valued at $755,000 after purchasing an additional 100 shares during the last quarter. First National Trust Co grew its holdings in shares of Starbucks by 2.2% during the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock valued at $483,000 after purchasing an additional 106 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Starbucks by 2.8% during the 4th quarter. Quent Capital LLC now owns 4,004 shares of the coffee company’s stock valued at $384,000 after purchasing an additional 108 shares during the last quarter. Finally, Graybill Wealth Management LTD. grew its holdings in shares of Starbucks by 0.3% during the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after purchasing an additional 109 shares during the last quarter. 72.29% of the stock is currently 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.