Argus Upgrades Starbucks (NASDAQ:SBUX) to Buy

Starbucks (NASDAQ:SBUX) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has a $115.00 target price on the coffee company’s stock. Argus’ price target points to a potential upside of 15.94% from the company’s current price.

A number of other brokerages also recently issued reports on SBUX. Stifel Nicolaus raised their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group raised their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays raised their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Wedbush raised their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Stock Up 0.9 %

NASDAQ SBUX opened at $99.19 on Tuesday. Starbucks has a 52 week low of $71.55 and a 52 week high of $117.46. The business’s fifty day simple moving average is $105.18 and its 200-day simple moving average is $99.30. The firm has a market cap of $112.67 billion, a PE ratio of 32.00, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter last year, the firm posted $0.90 EPS. Research analysts expect that Starbucks will post 2.99 EPS for the current year.

Institutional Investors Weigh In On Starbucks

Several institutional investors have recently added to or reduced their stakes in the business. 111 Capital purchased a new stake in Starbucks during the fourth quarter worth approximately $1,080,000. American Assets Investment Management LLC lifted its stake in Starbucks by 50.0% during the fourth quarter. American Assets Investment Management LLC now owns 60,000 shares of the coffee company’s stock worth $5,475,000 after purchasing an additional 20,000 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its stake in Starbucks by 0.3% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 170,865 shares of the coffee company’s stock valued at $15,591,000 after buying an additional 459 shares during the last quarter. Northstar Financial Companies Inc. purchased a new stake in Starbucks in the fourth quarter valued at approximately $351,000. Finally, Centaurus Financial Inc. lifted its stake in Starbucks by 10.7% in the fourth quarter. Centaurus Financial Inc. now owns 21,076 shares of the coffee company’s stock valued at $1,923,000 after buying an additional 2,031 shares during the last quarter. 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.