Starbucks (NASDAQ:SBUX) Sets New 1-Year High on Analyst Upgrade

Starbucks Co. (NASDAQ:SBUX)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $115.00 to $125.00. Wells Fargo & Company currently has an overweight rating on the stock. Starbucks traded as high as $115.24 and last traded at $114.59, with a volume of 10989382 shares trading hands. The stock had previously closed at $113.19.

SBUX has been the topic of several other research reports. Barclays raised their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wedbush increased their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Institutional Investors Weigh In On Starbucks

A number of hedge funds have recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $25,000. Financial Life Planners acquired a new position in Starbucks during the 4th quarter worth about $25,000. Graney & King LLC acquired a new position in Starbucks in the 4th quarter valued at about $26,000. Collier Financial purchased a new stake in Starbucks during the fourth quarter worth about $27,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 1.4 %

The business’s fifty day moving average is $101.04 and its two-hundred day moving average is $98.10. The stock has a market cap of $128.36 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the business earned $0.90 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

About Starbucks

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.