Starbucks (NASDAQ:SBUX) Stock Rating Upgraded by Argus

Starbucks (NASDAQ:SBUX) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a research note issued on Tuesday,Finviz reports. The brokerage currently has a $115.00 target price on the coffee company’s stock. Argus’ price objective would suggest a potential upside of 16.07% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. BMO Capital Markets upped their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their target price on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Barclays upped their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, UBS Group upped their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Trading Up 1.0 %

Shares of NASDAQ:SBUX opened at $99.08 on Tuesday. The company has a market cap of $112.54 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 3.59 and a beta of 0.99. Starbucks has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a 50-day moving average price of $104.94 and a 200 day moving average price of $99.28.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the business earned $0.90 earnings per share. As a group, equities analysts forecast that Starbucks will post 2.99 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SBUX. Strategic Financial Concepts LLC acquired a new stake in Starbucks in the 4th quarter valued at about $62,000. Arizona State Retirement System increased its holdings in shares of Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after buying an additional 2,722 shares during the last quarter. West Michigan Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $265,000. Wernau Asset Management Inc. purchased a new position in shares of Starbucks during the 4th quarter worth approximately $258,000. Finally, Investment Management Corp of Ontario boosted its position in shares of Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after purchasing an additional 12,300 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.