Starbucks (NASDAQ:SBUX) Price Target Raised to $114.00

Starbucks (NASDAQ:SBUX) had its price objective hoisted by equities research analysts at Bank of America from $106.00 to $114.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the coffee company’s stock. Bank of America‘s target price suggests a potential upside of 20.29% from the company’s previous close.

SBUX has been the subject of several other reports. Wall Street Zen raised shares of Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Barclays restated an “overweight” rating and set a $110.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Wednesday, January 7th. Zacks Research downgraded Starbucks from a “hold” rating to a “strong sell” rating in a research report on Monday, December 29th. Piper Sandler decreased their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, UBS Group set a $94.00 price target on Starbucks and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.15.

Starbucks Stock Performance

SBUX stock opened at $94.77 on Wednesday. The company has a market capitalization of $107.77 billion, a price-to-earnings ratio of 57.71, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. The business’s 50 day moving average price is $86.37 and its two-hundred day moving average price is $87.01. Starbucks has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.Starbucks’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS. Sell-side analysts forecast that Starbucks will post 2.99 earnings per share for the current year.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the purchase, the director owned 53,096 shares in the company, valued at approximately $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Starbucks

A number of hedge funds have recently made changes to their positions in the stock. Game Plan Financial Advisors LLC purchased a new position in shares of Starbucks in the 2nd quarter worth approximately $25,000. Transce3nd LLC boosted its stake in Starbucks by 270.3% in the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. Collier Financial acquired a new stake in Starbucks in the third quarter valued at approximately $25,000. Chelsea Counsel Co. purchased a new position in Starbucks in the second quarter worth $26,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of Starbucks during the third quarter worth $26,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Company Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.