Starbucks (NASDAQ:SBUX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Starbucks (NASDAQ:SBUX) had its price objective increased by investment analysts at Wells Fargo & Company from $110.00 to $115.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the coffee company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 13.29% from the company’s current price.

A number of other brokerages have also recently issued reports on SBUX. Morgan Stanley boosted their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research note on Wednesday, August 21st. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Price Performance

Starbucks stock opened at $101.51 on Tuesday. The stock has a market capitalization of $115.09 billion, a P/E ratio of 30.67, a P/E/G ratio of 2.98 and a beta of 0.97. Starbucks has a 12-month low of $71.55 and a 12-month high of $103.32. The firm’s 50-day moving average is $97.41 and its two-hundred day moving average is $87.65.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.06 earnings per share. As a group, analysts forecast that Starbucks will post 3.12 EPS for the current year.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Several hedge funds have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter valued at about $25,000. New Millennium Group LLC bought a new position in shares of Starbucks during the second quarter worth approximately $26,000. Stephens Consulting LLC increased its stake in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC bought a new position in shares of Starbucks during the second quarter worth approximately $27,000. Finally, Olistico Wealth LLC acquired a new stake in Starbucks during the 2nd quarter worth approximately $31,000. 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.