Barclays Issues Positive Forecast for Starbucks (NASDAQ:SBUX) Stock Price

Starbucks (NASDAQ:SBUX) had its price target increased by analysts at Barclays from $119.00 to $124.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the coffee company’s stock. Barclays‘s target price indicates a potential upside of 23.43% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. 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. Citigroup boosted their price objective on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Bank of America lowered their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Stifel Nicolaus boosted their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday. Finally, Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.92.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $100.46 on Wednesday. The company has a 50-day simple moving average of $95.70 and a 200 day simple moving average of $92.89. The company has a market capitalization of $113.90 billion, a P/E ratio of 30.35, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks has a 52-week low of $71.55 and a 52-week high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $0.90 earnings per share. As a group, equities analysts forecast that Starbucks will post 3.08 earnings per share for the current year.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Institutional investors have recently added to or reduced their stakes in the stock. Aspire Capital Advisors LLC increased its position in shares of Starbucks by 0.5% during the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock worth $2,118,000 after buying an additional 104 shares during the period. Riverview Trust Co raised its position in shares of Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after acquiring an additional 105 shares in the last quarter. Optas LLC boosted its position in shares of Starbucks by 0.6% during the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after purchasing an additional 105 shares in the last quarter. Boomfish Wealth Group LLC increased its holdings in Starbucks by 0.7% in the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock worth $1,399,000 after purchasing an additional 108 shares in the last quarter. Finally, Foster Group Inc. lifted its stake in Starbucks by 4.0% in the fourth quarter. Foster Group Inc. now owns 2,885 shares of the coffee company’s stock valued at $263,000 after buying an additional 110 shares during the period. 72.29% of the stock is currently owned by institutional investors.

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.