Barclays Boosts Starbucks (NASDAQ:SBUX) Price Target to $124.00

Starbucks (NASDAQ:SBUX) had its price objective upped by investment analysts at Barclays from $119.00 to $124.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the coffee company’s stock. Barclays‘s target price would suggest a potential upside of 13.76% from the company’s previous close.

SBUX has been the topic of several other research reports. Morgan Stanley boosted their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. UBS Group increased their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wedbush raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company upped 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. Finally, TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.52.

Starbucks Stock Up 0.4 %

Starbucks stock opened at $109.00 on Wednesday. Starbucks has a 52-week low of $71.55 and a 52-week high of $110.34. The company 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. The firm’s fifty day moving average is $95.90 and its 200 day moving average is $93.00.

Starbucks (NASDAQ:SBUX) last announced its 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 net margin of 10.40% and a negative return on equity of 46.39%. During the same quarter in the previous year, the business posted $0.90 EPS. On average, equities research analysts anticipate that Starbucks will post 3.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction on Thursday, November 21st. The stock was 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. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dakota Wealth Management increased its stake in Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after buying an additional 300 shares during the period. Weil Company Inc. increased its position in shares of Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares during the period. Maia Wealth LLC raised its stake in shares of Starbucks by 69.1% in 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 boosted its holdings in Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after purchasing an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario grew its stake in Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares in the last quarter. Hedge funds and other 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.