Starbucks (NASDAQ:SBUX) Hits New 12-Month High Following Analyst Upgrade

Shares of Starbucks Co. (NASDAQ:SBUX) reached a new 52-week high during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $115.00 to $125.00. Wells Fargo & Company currently has an overweight rating on the stock. Starbucks traded as high as $115.24 and last traded at $114.59, with a volume of 10989382 shares trading hands. The stock had previously closed at $113.19.

Several other analysts have also issued reports on SBUX. Citigroup upped their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. UBS Group upped their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays increased their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wedbush boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SBUX. Jefferies Financial Group Inc. raised its holdings in shares of Starbucks by 1,076.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 36,612 shares of the coffee company’s stock valued at $3,341,000 after acquiring an additional 33,500 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in Starbucks by 3.9% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 5,767 shares of the coffee company’s stock worth $526,000 after purchasing an additional 218 shares in the last quarter. Lakeshore Capital Group Inc. purchased a new stake in shares of Starbucks in the 4th quarter worth about $561,000. Hall Capital Management Co. Inc. purchased a new stake in shares of Starbucks in the 4th quarter worth about $380,000. Finally, Putney Financial Group LLC bought a new stake in shares of Starbucks during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.3 %

The company has a market cap of $130.05 billion, a PE ratio of 36.93, a PEG ratio of 3.59 and a beta of 1.00. The firm’s 50-day moving average is $101.55 and its 200-day moving average is $98.22.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 period last year, the company posted $0.90 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

About Starbucks

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.