Starbucks (NASDAQ:SBUX) Given New $115.00 Price Target at BMO Capital Markets

Starbucks (NASDAQ:SBUXGet Free Report) had its price objective hoisted by equities research analysts at BMO Capital Markets from $110.00 to $115.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the coffee company’s stock. BMO Capital Markets’ price target indicates a potential upside of 7.23% from the company’s previous close.

SBUX has been the topic of several other reports. Wells Fargo & Company lifted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. UBS Group lifted their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday. Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Finally, Stifel Nicolaus lifted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $105.52.

View Our Latest Stock Analysis on Starbucks

Starbucks Stock Performance

SBUX stock traded up $6.84 during trading on Wednesday, hitting $107.25. 16,842,182 shares of the company traded hands, compared to its average volume of 8,148,876. Starbucks has a 1 year low of $71.55 and a 1 year high of $107.47. The company has a 50-day moving average of $95.70 and a 200-day moving average of $92.89. The firm has a market capitalization of $121.60 billion, a PE ratio of 32.38, a P/E/G ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its earnings results 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 negative return on equity of 46.39% and a net margin of 10.40%. During the same period last year, the business posted $0.90 earnings per share. Sell-side analysts expect that Starbucks will post 3.08 EPS for the current year.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dakota Wealth Management grew its position in shares of Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares during the last quarter. Weil Company Inc. raised its holdings in shares of Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares during the last quarter. Maia Wealth LLC increased its position in Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares in the last quarter. Aljian Capital Management LLC raised its position in shares of Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after buying an additional 9,936 shares during the last quarter. Finally, Investment Management Corp of Ontario raised its holdings in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after acquiring an additional 12,300 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

About Starbucks

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.