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.