The Goldman Sachs Group Forecasts Strong Price Appreciation for Starbucks (NASDAQ:SBUX) Stock

Starbucks (NASDAQ:SBUX) had its target price boosted by The Goldman Sachs Group from $85.00 to $95.00 in a research note issued to investors on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the coffee company’s stock.

SBUX has been the topic of several other reports. Barclays cut their target price on Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. TD Securities reiterated a “hold” rating and issued a $90.00 target price on shares of Starbucks in a report on Wednesday. Baird R W downgraded shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. JPMorgan Chase & Co. dropped their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Finally, Guggenheim reduced their price objective on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Starbucks has an average rating of “Hold” and a consensus price target of $98.96.

Starbucks Price Performance

Starbucks stock opened at $93.26 on Thursday. The business has a 50 day moving average of $85.17 and a 200-day moving average of $94.88. The company has a market capitalization of $105.98 billion, a P/E ratio of 30.08, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. Starbucks’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. Equities analysts anticipate that Starbucks will post 2.99 EPS for the current year.

Institutional Investors Weigh In On Starbucks

Several institutional investors have recently bought and sold shares of SBUX. 1248 Management LLC bought a new position in Starbucks during the 1st quarter valued at $55,000. eCIO Inc. purchased a new stake in shares of Starbucks in the first quarter valued at about $174,000. Cim LLC lifted its position in shares of Starbucks by 8.2% during the first quarter. Cim LLC now owns 3,949 shares of the coffee company’s stock valued at $387,000 after purchasing an additional 300 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the last quarter. Finally, Modern Wealth Management LLC grew its position in Starbucks by 27.2% in the 1st quarter. Modern Wealth Management LLC now owns 9,860 shares of the coffee company’s stock worth $967,000 after purchasing an additional 2,110 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

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.