Starbucks (NASDAQ:SBUX) Stock Price Expected to Rise, Barclays Analyst Says

Starbucks (NASDAQ:SBUXGet Free Report) had its price objective lifted by equities researchers at Barclays from $119.00 to $124.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the coffee company’s stock. Barclays‘s price target points to a potential upside of 13.76% from the company’s current price.

Several other equities research analysts have also recently commented on the company. BTIG Research upped their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. UBS Group lifted their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Bank of America lowered their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $105.52.

View Our Latest Stock Analysis on SBUX

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $109.00 on Wednesday. Starbucks has a 12 month low of $71.55 and a 12 month high of $110.34. The firm has a market capitalization of $123.82 billion, a P/E ratio of 32.93, a P/E/G ratio of 2.91 and a beta of 0.99. The company’s fifty day moving average price is $95.90 and its 200 day moving average price is $93.00.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. During the same period in the prior year, the company posted $0.90 earnings per share. On average, sell-side analysts anticipate that Starbucks will post 3.08 EPS for the current year.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was 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 trade represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Starbucks

Several institutional investors and hedge funds have recently modified their holdings of SBUX. Dakota Wealth Management boosted its holdings in Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after acquiring an additional 300 shares during the period. Weil Company Inc. lifted its position in shares of Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC lifted its position in shares of Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares in the last quarter. Aljian Capital Management LLC boosted its stake in shares of Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after purchasing an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario grew its holdings in Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after purchasing an additional 12,300 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

About Starbucks

(Get Free Report)

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.

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