UBS Group Raises Starbucks (NASDAQ:SBUX) Price Target to $105.00

Starbucks (NASDAQ:SBUX) had its target price raised by investment analysts at UBS Group from $98.00 to $105.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the coffee company’s stock. UBS Group’s price objective suggests a potential downside of 3.67% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Citigroup increased their price objective on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wedbush raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Morgan Stanley increased their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Bank of America decreased their price target on shares of 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 given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.52.

Starbucks Stock Up 0.4 %

SBUX opened at $109.00 on Wednesday. The firm has a 50-day moving average price of $95.90 and a 200-day moving average price of $93.00. Starbucks has a twelve month low of $71.55 and a twelve month high of $110.34. The company has a market capitalization of $123.82 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 2.91 and a beta of 0.99.

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 analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period last year, the business posted $0.90 earnings per share. On average, sell-side analysts expect that Starbucks will post 3.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on 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 in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Starbucks

Institutional investors have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the second quarter valued at approximately $25,000. Financial Life Planners acquired a new stake in Starbucks in the 4th quarter valued at $25,000. Collier Financial purchased a new stake in Starbucks in the 4th quarter worth $27,000. DT Investment Partners LLC raised its position in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the period. Finally, FSA Wealth Management LLC purchased a new position in Starbucks during the third quarter valued at $49,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

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.