Bank of America Issues Positive Forecast for Starbucks (NASDAQ:SBUX) Stock Price

Starbucks (NASDAQ:SBUX - Get Free Report) had its price objective boosted by equities research analysts at Bank of America from $101.00 to $110.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the coffee company's stock. Bank of America's price objective indicates a potential upside of 17.65% from the company's current price.

Several other brokerages also recently weighed in on SBUX. Stifel Nicolaus raised their target price on Starbucks from $92.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, July 11th. CICC Research started coverage on Starbucks in a report on Monday, June 30th. They set an "outperform" rating and a $100.00 price target on the stock. UBS Group dropped their target price on Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. BMO Capital Markets dropped their target price on Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, TD Securities reiterated a "hold" rating and set a $90.00 price objective on shares of Starbucks in a research report on Monday, June 23rd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $98.58.

Starbucks Trading Up 0.3%

Shares of Starbucks stock traded up $0.31 during trading hours on Friday, reaching $93.50. 1,304,012 shares of the company's stock were exchanged, compared to its average volume of 10,316,004. Starbucks has a 52-week low of $72.72 and a 52-week high of $117.46. The firm has a market capitalization of $106.25 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 4.74 and a beta of 1.02. The company has a fifty day moving average of $89.95 and a 200-day moving average of $94.54.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.68 earnings per share. On average, equities research analysts anticipate that Starbucks will post 2.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Starbucks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Starbucks by 10.3% during the 4th quarter. Proficio Capital Partners LLC now owns 7,647 shares of the coffee company's stock worth $698,000 after purchasing an additional 714 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Starbucks by 0.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 63,096 shares of the coffee company's stock worth $5,859,000 after purchasing an additional 260 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of Starbucks by 1.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 473,779 shares of the coffee company's stock worth $43,232,000 after buying an additional 5,274 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Starbucks by 64.3% during the 4th quarter. Teacher Retirement System of Texas now owns 66,843 shares of the coffee company's stock worth $6,099,000 after buying an additional 26,164 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.