Starbucks (NASDAQ:SBUX) had its target price lifted by equities research analysts at Wells Fargo & Company from $126.00 to $129.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the coffee company's stock. Wells Fargo & Company's price target would suggest a potential upside of 11.48% from the company's current price.
Several other equities analysts have also recently weighed in on SBUX. Stifel Nicolaus raised their price target on shares of Starbucks from $115.00 to $124.00 and gave the stock a "buy" rating in a research note on Monday, April 26th. Morgan Stanley increased their price objective on Starbucks from $110.00 to $120.00 and gave the company an "equal weight" rating in a report on Tuesday. Stephens raised their price target on Starbucks from $115.00 to $118.00 and gave the company an "equal weight" rating in a report on Wednesday, April 28th. Gordon Haskett raised Starbucks from a "hold" rating to a "buy" rating and lifted their target price for the stock from $100.00 to $120.00 in a report on Friday, February 5th. Finally, Oppenheimer raised their price target on Starbucks from $122.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday, April 26th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. The stock has a consensus rating of "Buy" and a consensus target price of $120.80.
NASDAQ SBUX opened at $115.72 on Tuesday. The business has a 50 day simple moving average of $112.30 and a 200 day simple moving average of $103.39. Starbucks has a 52-week low of $70.65 and a 52-week high of $118.98. The stock has a market cap of $136.24 billion, a price-to-earnings ratio of 150.29, a PEG ratio of 2.67 and a beta of 0.82.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Monday, April 26th. The coffee company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.10. Starbucks had a negative return on equity of 18.07% and a net margin of 3.95%. The business had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.75 billion. During the same period in the prior year, the business earned $0.32 EPS. Starbucks's revenue for the quarter was up 11.2% compared to the same quarter last year. Analysts anticipate that Starbucks will post 2.81 EPS for the current fiscal year.
In other news, CEO Kevin R. Johnson sold 153,290 shares of the business's stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $109.12, for a total transaction of $16,727,004.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rachel A. Gonzalez sold 82,894 shares of the business's stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $109.50, for a total value of $9,076,893.00. Following the sale, the executive vice president now owns 78,905 shares of the company's stock, valued at approximately $8,640,097.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 406,184 shares of company stock worth $44,685,798. Insiders own 0.41% of the company's stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealthcare Capital Management LLC bought a new stake in shares of Starbucks during the first quarter valued at approximately $25,000. Hoover Financial Advisors Inc. bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. Oxler Private Wealth LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $32,000. Clark Financial Advisors bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $33,000. Finally, Phoenix Wealth Advisors bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 67.27% of the company's stock.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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