BMO Capital Markets Boosts Starbucks (NASDAQ:SBUX) Price Target to $115.00

Starbucks (NASDAQ:SBUX) had its price target hoisted by stock analysts at BMO Capital Markets from $110.00 to $115.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the coffee company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 5.50% from the company’s previous close.

SBUX has been the subject of several other reports. Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. 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. Bank of America lowered their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. UBS Group boosted their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Citigroup increased their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $105.52.

Starbucks Trading Up 0.4 %

Shares of SBUX opened at $109.00 on Wednesday. Starbucks has a twelve month low of $71.55 and a twelve month high of $110.34. The firm has a market capitalization of $123.82 billion, a P/E ratio of 32.93, a PEG ratio of 2.91 and a beta of 0.99. The firm’s 50-day moving average is $95.90 and its two-hundred day moving average is $93.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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. Analysts predict that Starbucks will post 3.08 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’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 completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Starbucks

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dakota Wealth Management boosted its stake in shares of Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares during the period. Weil Company Inc. boosted its position in Starbucks by 31.2% in 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 during the last quarter. Maia Wealth LLC grew its stake 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 valued at $1,805,000 after acquiring an additional 7,596 shares in the last quarter. Aljian Capital Management LLC increased its position in shares of Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after acquiring an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its holdings in Starbucks by 48.6% in the third 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 during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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.