Wedbush Increases Starbucks (NASDAQ:SBUX) Price Target to $100.00

Starbucks (NASDAQ:SBUX) had its price target upped by investment analysts at Wedbush from $95.00 to $100.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the coffee company’s stock. Wedbush’s target price points to a potential downside of 8.26% from the stock’s current price.

A number of other research analysts also recently weighed in on SBUX. Wells Fargo & Company raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Stifel Nicolaus upped their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday. Bank of America lowered their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.52.

Starbucks Trading Up 0.4 %

SBUX opened at $109.00 on Wednesday. The stock has a fifty day moving average price of $95.90 and a 200 day moving average price of $93.00. Starbucks has a 1 year low of $71.55 and a 1 year high of $110.34. The stock has a market cap 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 announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 quarter last year, the business posted $0.90 earnings per share. As a group, sell-side analysts forecast that Starbucks will post 3.08 earnings per share for the current fiscal year.

Insider Activity at Starbucks

In related 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 transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter valued at $25,000. Financial Life Planners bought a new position in shares of Starbucks in the fourth quarter valued at about $25,000. Collier Financial acquired a new position in Starbucks during the 4th quarter worth about $27,000. DT Investment Partners LLC grew its holdings in Starbucks by 39.4% during the 3rd 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 last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Starbucks in the 3rd quarter valued at about $49,000. 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.