Analyzing the Drop in Starbucks Stock Today

This morning we watched Starbucks drop -15.5% to a price of $74.78 per share. The Large-Cap Restaurant Chain company is now trading -27.36% below its average target price of $102.95. Analysts have set target prices ranging from $87.0 to $120.0 per share for Starbucks, and have given the stock an average rating of buy.

The stock has a very low short interest at 1.6%, and a short ratio of 2.4. The company's insiders own 2.04% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 76.1% of Starbucks's shares being owned by this investor type.

Institutions Invested in Starbucks

Date Reported Holder Percentage Shares Value
2023-12-31 Vanguard Group Inc 10% 107,933,270 $8,068,011,932
2023-12-31 Blackrock Inc. 7% 78,752,115 $5,886,720,596
2023-12-31 State Street Corporation 4% 46,316,730 $3,462,175,567
2023-12-31 Geode Capital Management, LLC 2% 22,841,937 $1,707,434,790
2023-12-31 Morgan Stanley 2% 22,636,757 $1,692,097,585
2023-12-31 Bank of America Corporation 2% 19,800,137 $1,480,060,240
2023-12-31 Northern Trust Corporation 1% 14,695,163 $1,098,463,434
2023-12-31 Royal Bank of Canada 1% 14,340,887 $1,071,981,303
2023-12-31 JP Morgan Chase & Company 1% 13,667,966 $1,021,680,458
2023-12-31 Norges Bank Investment Management 1% 12,922,116 $965,928,171

Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Starbucks.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.