Starbucks (NASDAQ:SBUX) Price Target Raised to $124.00

Starbucks (NASDAQ:SBUX) had its price target increased by analysts at Barclays from $119.00 to $124.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the coffee company’s stock. Barclays‘s price objective suggests a potential upside of 23.43% from the stock’s current price.

SBUX has been the subject of a number of other research reports. Morgan Stanley boosted their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. UBS Group raised their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $104.92.

Starbucks Stock Up 0.4 %

Shares of NASDAQ SBUX opened at $100.46 on Wednesday. The company has a market cap of $113.90 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks has a 12-month low of $71.55 and a 12-month high of $103.32. The firm’s 50-day simple moving average is $95.70 and its 200 day simple moving average is $92.89.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same quarter in the previous year, the company earned $0.90 EPS. On average, equities analysts expect that Starbucks will post 3.08 earnings per share for the current year.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

A number of institutional investors have recently made changes to their positions in SBUX. Aspire Capital Advisors LLC increased its stake in Starbucks by 0.5% in the 4th quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after buying an additional 104 shares during the last quarter. Riverview Trust Co increased its position in shares of Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 105 shares during the last quarter. Optas LLC raised its holdings in Starbucks by 0.6% during the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock worth $1,525,000 after acquiring an additional 105 shares in the last quarter. Boomfish Wealth Group LLC boosted its position in Starbucks by 0.7% during the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after purchasing an additional 108 shares during the last quarter. Finally, Foster Group Inc. grew its stake in Starbucks by 4.0% in the fourth quarter. Foster Group Inc. now owns 2,885 shares of the coffee company’s stock valued at $263,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Company Profile

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.