JPMorgan Chase & Co. Increases Starbucks (NASDAQ:SBUX) Price Target to $105.00

Starbucks (NASDAQ:SBUX - Get Free Report) had its price target boosted by analysts at JPMorgan Chase & Co. from $90.00 to $105.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an "overweight" rating on the coffee company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 7.70% from the company's previous close.

A number of other equities research analysts also recently commented on SBUX. Jefferies Financial Group downgraded Starbucks from a "hold" rating to an "underperform" rating and decreased their target price for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Citigroup upped their price objective on shares of Starbucks from $82.00 to $98.00 and gave the company a "neutral" rating in a report on Wednesday, August 14th. BMO Capital Markets raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, September 9th. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 13th. Finally, Evercore ISI upgraded Starbucks from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.12.

Starbucks Stock Performance

SBUX traded up $0.13 during trading on Monday, hitting $97.49. The stock had a trading volume of 6,436,602 shares, compared to its average volume of 11,811,015. The stock has a 50 day simple moving average of $89.16 and a two-hundred day simple moving average of $84.19. Starbucks has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a market capitalization of $110.43 billion, a PE ratio of 26.86, a PEG ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts' consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $9.25 billion. During the same quarter last year, the firm earned $1.00 EPS. The business's quarterly revenue was down .6% on a year-over-year basis. On average, equities research analysts anticipate that Starbucks will post 3.56 EPS for the current year.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company's stock, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company's stock, valued at approximately $3,316,143. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Starbucks

A number of institutional investors have recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the second quarter valued at $25,000. Vima LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $26,000. Scarborough Advisors LLC acquired a new position in Starbucks in the fourth quarter worth approximately $26,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the second quarter valued at $26,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company's stock worth $26,000 after buying an additional 279 shares during the period. 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.