Fintel reports that on September 22, 2023, TD Cowen reiterated coverage of Starbucks (NASDAQ:SBUX) with a Market Perform recommendation.
Analyst Price Forecast Suggests 24.37% Upside
As of August 31, 2023, the average one-year price target for Starbucks is 115.78. The forecasts range from a low of 85.85 to a high of $157.50. The average price target represents an increase of 24.37% from its latest reported closing price of 93.10.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Starbucks is 36,596MM, an increase of 4.51%. The projected annual non-GAAP EPS is 3.48.
What is the Fund Sentiment?
There are 3355 funds or institutions reporting positions in Starbucks. This is a decrease of 46 owner(s) or 1.35% in the last quarter. Average portfolio weight of all funds dedicated to SBUX is 0.46%, a decrease of 10.51%. Total shares owned by institutions increased in the last three months by 0.50% to 917,273K shares. 
The put/call ratio of SBUX is 1.21, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 35,742K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 35,576K shares, representing an increase of 0.46%. The firm decreased its portfolio allocation in SBUX by 11.82% over the last quarter.
Bank Of America holds 29,791K shares representing 2.60% ownership of the company. In it's prior filing, the firm reported owning 32,246K shares, representing a decrease of 8.24%. The firm increased its portfolio allocation in SBUX by 251.67% over the last quarter.
Capital Research Global Investors holds 27,368K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 26,814K shares, representing an increase of 2.03%. The firm decreased its portfolio allocation in SBUX by 8.83% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 27,295K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 26,818K shares, representing an increase of 1.75%. The firm decreased its portfolio allocation in SBUX by 12.30% over the last quarter.
Geode Capital Management holds 21,953K shares representing 1.92% ownership of the company. In it's prior filing, the firm reported owning 21,506K shares, representing an increase of 2.03%. The firm decreased its portfolio allocation in SBUX by 12.16% over the last quarter.
Starbucks Background Information
(This description is provided by the company.)
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with nearly 33,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup.
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This story originally appeared on Fintel.
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