The Vanguard Group, Inc. has recently announced that it has increased stake in Starbucks Corporation (NASDAQ:SBUX) by 1.51%. After grabbing 99.19 million shares, the institutional investor is now in possession of 1.48 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 8.65% having worth around $8.59 billion. Moreover, SSgA Funds Management, Inc. increased its share by 0.36 million to have a control over 44.89 million shares. And Capital Research & Management Co raised its holdings to 5.65 million shares by acquiring 25.23 million shares or 2.20% of the stake.
Starbucks Corporation (SBUX) concluded trading on 11/30/22 at a closing price of $102.20, with 14.92 million shares of worth about $1.52 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 33.98% during that period and on Wednesday the price saw a gain of about 3.59%. Currently the company’s common shares owned by public are about 1.15B shares, out of which, 1.15B shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 34 analysts are covering the SBUX stock and their offered price forecasts bring an average price target of $99.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $118.90 and could fall to a lowest price of $87.00. The stock’s current price level is -3.86% below of average price target set by the analysts, while a dip to estimated low would result in loss of -17.47% for the stock. However, touching the estimated high of $118.90 would mean a gain of 14.05% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 35 times over the past 12 months. They bought 623,565 shares in 19 of the transactions. In 16 selling transactions, insiders dumped 268,597 shares.
Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Invesco QQQ Trust are the top 3 mutual funds which are holding stakes in Starbucks Corporation Vanguard Total Stock Market Index is currently holding 34.43 million shares of worth totaling $2.98 billion. The company recently came buying 0.17 million shares which brought its stake up to 3.00% of the company’s outstanding shares. Vanguard 500 Index Fund bought 0.26 million shares, after which its hold over company’s outstanding shares expand to 2.29%, leaving 26.26 million shares with the mutual fund that have a worth of about $2.27 billion. Invesco QQQ Trust, after selling 16.61 million shares, have now control over 1.45% of the stake in the company. It holds 15230.0 shares of worth $1.44 billion.
Starbucks Corporation (NASDAQ: SBUX) started trading at $99.05, above $0.39 from concluding price of the previous day. However, the stock later moved at a day high price of 102.52, or with a gain of 3.59%. Stock saw a price change of 3.83% in past 5 days and over the past one month there was a price change of 18.03%. Year-to-date (YTD), SBUX shares are showing a performance of -12.63% which decreased to -6.79% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $68.39 but also hit the highest price of $117.80 during that period. The average intraday trading volume for Starbucks Corporation shares is 8.16 million. The stock is currently trading 7.74% above its 20-day simple moving average (SMA20), while that difference is up 13.47% for SMA50 and it goes to 21.17% higher than SMA200.
The Vanguard Group, Inc. acquired 99.19 million shares of Starbucks Corporation having value of about $8.59 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 1.48 million shares in the company valued at close to $151266220.0, or have control over 1.51% stake in the company. Starbucks Corporation (NASDAQ: SBUX) currently have 1.15B outstanding shares and institutions hold larger chunk of about 72.00% of that. Holding of mutual funds in the company is about 32.96% while other institutional holders and individual stake holders have control over 38.17% and 2.50% of the stake respectively.
The stock has a current market capitalization of $116.02B and its 3Y-monthly beta is at 0.88. PE ratio of stock for trailing 12 months is 36.07, while it has posted earnings per share of $2.83 in the same period. Its PEG reads 2.19 and has Quick Ratio of 0.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SBUX, volatility over the week remained 2.02% while standing at 2.37% over the month.
Analysts are in expectations that Starbucks Corporation (SBUX) stock would likely to be making an EPS of $0.72 in the current quarter, while forecast for next quarter EPS is $0.75 and it is $3.34 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.65 which is $0.81 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -20.00% while it is estimated to increase by 17.50% in next year. EPS is likely to grow at an annualized rate of 16.46% for next 5-years, compared to annual growth of 7.50% made by the stock over the past 5-years.
Analysts at 34 brokerage firms have issued recommendations for the Starbucks Corporation (SBUX)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.40. Out of those 34 Wall Street analysts, 13 recommended a “Buy” rating, while 18 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stephens on September 23, 2022 offering an Equal-weight rating for the stock and assigned a target price of $91 to it. Coverage by Bernstein stated Starbucks Corporation (SBUX) stock as a Mkt perform in their note to investors on September 08, 2022, suggesting a price target of $94 for the stock. On July 14, 2022, Deutsche Bank Reiterated their recommendations, while on May 04, 2022, Evercore ISI Upgrade their ratings for the stock with a price target of $95. Stock get a Neutral rating from Citigroup on April 12, 2022.