Starbucks (NASDAQ:SBUX – Get Free Report) had its target price hoisted by analysts at Wedbush from $95.00 to $100.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the coffee company’s stock. Wedbush’s target price suggests a potential downside of 0.46% from the stock’s previous close.
A number of other analysts have also issued reports on SBUX. Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. BTIG Research upped their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Morgan Stanley increased their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.92.
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Starbucks Price Performance
Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 business earned $0.90 EPS. 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 the firm’s 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 completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.98% of the company’s stock.
Institutional Investors Weigh In On Starbucks
A number of large investors have recently made changes to their positions in the stock. RAM Investment Partners LLC lifted its holdings in shares of Starbucks by 59.2% during the fourth quarter. RAM Investment Partners LLC now owns 3,319 shares of the coffee company’s stock worth $303,000 after purchasing an additional 1,234 shares during the period. Angeles Wealth Management LLC raised its position in Starbucks by 11.7% during the 4th quarter. Angeles Wealth Management LLC now owns 3,236 shares of the coffee company’s stock worth $295,000 after buying an additional 338 shares during the last quarter. Martin Capital Advisors LLP lifted its stake in Starbucks by 2.4% during the 4th quarter. Martin Capital Advisors LLP now owns 33,109 shares of the coffee company’s stock valued at $3,021,000 after acquiring an additional 790 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Starbucks in the 4th quarter valued at $354,000. Finally, Kestra Private Wealth Services LLC increased its stake in shares of Starbucks by 2.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 85,589 shares of the coffee company’s stock worth $7,810,000 after acquiring an additional 1,674 shares during the period. 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.
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