Wells Fargo & Company Increases Starbucks (NASDAQ:SBUX) Price Target to $125.00

Starbucks (NASDAQ:SBUX) had its price objective raised by analysts at Wells Fargo & Company from $115.00 to $125.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the coffee company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 10.50% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Barclays lifted 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. BMO Capital Markets raised their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Redburn Atlantic restated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, UBS Group increased their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Stock Down 0.1 %

NASDAQ SBUX traded down $0.07 during trading on Tuesday, reaching $113.12. 575,560 shares of the stock traded hands, compared to its average volume of 9,627,038. The stock’s 50-day moving average price is $100.13 and its 200 day moving average price is $97.72. The firm has a market cap of $128.49 billion, a price-to-earnings ratio of 36.50, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $114.68.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the firm posted $0.90 EPS. Analysts anticipate that Starbucks will post 2.99 EPS for the current fiscal year.

Institutional Trading of Starbucks

Institutional investors and hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Starbucks by 31.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,766 shares of the coffee company’s stock worth $367,000 after buying an additional 909 shares in the last quarter. Concord Wealth Partners lifted its holdings in shares of Starbucks by 12.2% in the third quarter. Concord Wealth Partners now owns 1,815 shares of the coffee company’s stock worth $177,000 after acquiring an additional 197 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Starbucks by 14.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 425,733 shares of the coffee company’s stock valued at $41,505,000 after purchasing an additional 54,233 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Starbucks in the 3rd quarter valued at $235,000. Finally, abrdn plc grew its holdings in Starbucks by 30.5% during the 3rd quarter. abrdn plc now owns 538,970 shares of the coffee company’s stock worth $52,145,000 after acquiring an additional 125,912 shares during the last quarter. Institutional investors 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.