Starbucks (NASDAQ:SBUX) Given New $115.00 Price Target at Wells Fargo & Company

Starbucks (NASDAQ:SBUX) had its target price increased by Wells Fargo & Company from $110.00 to $115.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the coffee company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 13.29% from the company’s current price.

A number of other brokerages have also issued reports on SBUX. UBS Group raised their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Trading Up 0.8 %

Shares of NASDAQ:SBUX opened at $101.51 on Tuesday. The firm has a 50 day moving average of $97.41 and a 200-day moving average of $87.65. Starbucks has a 12 month low of $71.55 and a 12 month high of $103.32. The stock has a market capitalization of $115.09 billion, a PE ratio of 30.67, a PEG ratio of 2.98 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 earnings per share. On average, research analysts predict that Starbucks will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Starbucks

Large investors have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the second quarter worth about $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at approximately $26,000. Stephens Consulting LLC boosted its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new position in Starbucks in the 2nd quarter valued at approximately $27,000. Finally, Olistico Wealth LLC bought a new stake in Starbucks during the 2nd quarter valued at $31,000. Hedge funds and other 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.