Starbucks (NASDAQ:SBUX) Hits New 1-Year High on Analyst Upgrade

Starbucks Co. (NASDAQ:SBUX)’s stock price reached a new 52-week high on Wednesday after Wells Fargo & Company raised their price target on the stock from $115.00 to $125.00. Wells Fargo & Company currently has an overweight rating on the stock. Starbucks traded as high as $115.24 and last traded at $114.59, with a volume of 10989382 shares trading hands. The stock had previously closed at $113.19.

Several other research firms have also recently issued reports on SBUX. Citigroup upped their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Finally, Wedbush increased 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, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.75.

Institutional Investors Weigh In On Starbucks

Several institutional investors have recently made changes to their positions in SBUX. Jefferies Financial Group Inc. grew its holdings in Starbucks by 1,076.5% during the 4th quarter. Jefferies Financial Group Inc. now owns 36,612 shares of the coffee company’s stock valued at $3,341,000 after purchasing an additional 33,500 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Starbucks by 3.9% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 5,767 shares of the coffee company’s stock valued at $526,000 after buying an additional 218 shares during the period. Lakeshore Capital Group Inc. bought a new position in shares of Starbucks during the fourth quarter valued at approximately $561,000. Hall Capital Management Co. Inc. bought a new position in shares of Starbucks during the fourth quarter valued at approximately $380,000. Finally, Putney Financial Group LLC purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $67,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.3 %

The stock has a 50 day moving average of $101.55 and a 200-day moving average of $98.22. The stock has a market capitalization of $130.05 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its 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 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the business earned $0.90 earnings per share. Research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

About Starbucks

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.