Wells Fargo & Company Forecasts Strong Price Appreciation for Starbucks (NASDAQ:SBUX) Stock

Starbucks (NASDAQ:SBUX) had its target price hoisted by research analysts at Wells Fargo & Company from $115.00 to $125.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the coffee company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 10.62% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Wedbush increased their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. BMO Capital Markets upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Stifel Nicolaus raised their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Finally, Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Stock Down 1.4 %

NASDAQ SBUX opened at $113.00 on Tuesday. The firm 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. The company has a 50-day simple moving average of $101.04 and a two-hundred day simple moving average of $98.10. Starbucks has a 12-month low of $71.55 and a 12-month high of $115.24.

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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Equities analysts expect that Starbucks will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Starbucks

A number of hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Starbucks in the fourth quarter worth approximately $1,244,812,000. Capital World Investors raised its holdings in Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares during the last quarter. Wellington Management Group LLP lifted its position in Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares in the last quarter. FMR LLC boosted its stake in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Starbucks by 167.6% in the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock worth $519,230,000 after purchasing an additional 3,563,942 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.