Evercore ISI Forecasts Strong Price Appreciation for Starbucks (NASDAQ:SBUX) Stock

Starbucks (NASDAQ:SBUX - Get Free Report) had its price target raised by equities research analysts at Evercore ISI from $95.00 to $105.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the coffee company's stock. Evercore ISI's price target indicates a potential upside of 15.56% from the stock's current price.

SBUX has been the subject of several other research reports. Barclays dropped their price objective on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Robert W. Baird restated a "neutral" rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a report on Monday, April 7th. Citigroup upped their price objective on shares of Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, June 12th. Guggenheim reduced their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 target price for the company in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $98.36.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $1.48 during midday trading on Tuesday, hitting $90.86. The company had a trading volume of 3,571,388 shares, compared to its average volume of 10,904,009. The company has a fifty day moving average of $86.02 and a two-hundred day moving average of $94.48. The company has a market cap of $103.25 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 4.74 and a beta of 1.00. Starbucks has a 12-month low of $71.55 and a 12-month high of $117.46.

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

Institutional Investors Weigh In On Starbucks

Several institutional investors have recently added to or reduced their stakes in SBUX. Brighton Jones LLC lifted its holdings in 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. Y Intercept Hong Kong Ltd acquired a new stake in Starbucks during the fourth quarter worth about $389,000. WealthShield Partners LLC increased its holdings in Starbucks by 15.2% in the 4th quarter. WealthShield Partners LLC now owns 3,065 shares of the coffee company's stock valued at $280,000 after buying an additional 404 shares during the period. IFP Advisors Inc raised its position in Starbucks by 0.5% during the fourth quarter. IFP Advisors Inc now owns 50,027 shares of the coffee company's stock valued at $4,566,000 after purchasing an additional 228 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its position in shares of Starbucks by 253.5% during the 4th quarter. Impax Asset Management Group plc now owns 312,653 shares of the coffee company's stock worth $28,530,000 after buying an additional 224,214 shares during the last quarter. 72.29% of the stock is owned by 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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