Starbucks (NASDAQ:SBUX) Price Target Raised to $105.00

Starbucks (NASDAQ:SBUX) had its target price hoisted by stock analysts at UBS Group from $98.00 to $105.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the coffee company’s stock. UBS Group’s price objective would indicate a potential downside of 0.48% from the stock’s previous close.

SBUX has been the subject of several other research reports. Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. Bank of America lowered their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Stifel Nicolaus upped their price target on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday. Citigroup increased their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Morgan Stanley boosted their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.32.

Starbucks Stock Up 5.1 %

Shares of SBUX stock traded up $5.10 during trading hours on Wednesday, hitting $105.51. 6,902,833 shares of the company’s stock traded hands, compared to its average volume of 7,493,912. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.23. The stock has a market cap of $119.62 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. The stock’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 analysts’ consensus estimates 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 last year, the firm posted $0.90 EPS. As a group, equities research analysts expect that Starbucks will post 3.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

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