Starbucks (NASDAQ:SBUX) Price Target Raised to $125.00

Starbucks (NASDAQ:SBUX) had its price objective increased by analysts at Credit Suisse Group from $116.00 to $125.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the coffee company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 8.02% from the stock’s previous close.

SBUX has been the topic of a number of other reports. Citigroup increased their target price on Starbucks from $111.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, January 27th. Royal Bank of Canada increased their price objective on Starbucks from $126.00 to $131.00 and gave the company an “outperform” rating in a research report on Tuesday. Stifel Nicolaus increased their price objective on Starbucks from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Monday, April 26th. Morgan Stanley increased their price objective on Starbucks from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, MKM Partners increased their price objective on Starbucks from $105.00 to $117.00 in a research report on Thursday, April 22nd. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $120.80.

Shares of SBUX stock opened at $115.72 on Tuesday. The stock has a market cap of $136.24 billion, a price-to-earnings ratio of 150.29, a PEG ratio of 2.67 and a beta of 0.82. The business’s fifty day moving average is $112.30 and its 200 day moving average is $103.39. Starbucks has a twelve month low of $70.65 and a twelve month high of $118.98.

Starbucks (NASDAQ:SBUX) last released its earnings results on Monday, April 26th. The coffee company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. Starbucks had a negative return on equity of 18.07% and a net margin of 3.95%. The firm had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.75 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts predict that Starbucks will post 2.81 earnings per share for the current year.

In related news, EVP Rachel A. Gonzalez sold 82,894 shares of Starbucks stock in a transaction that occurred on Monday, March 29th. The stock was sold at an average price of $109.50, for a total transaction of $9,076,893.00. Following the sale, the executive vice president now owns 78,905 shares of the company’s stock, valued at approximately $8,640,097.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin R. Johnson sold 153,290 shares of Starbucks stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $109.12, for a total value of $16,727,004.80. The disclosure for this sale can be found here. Insiders have sold a total of 406,184 shares of company stock worth $44,685,798 in the last three months. 0.41% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MJP Associates Inc. ADV grew its holdings in Starbucks by 11.3% during the 1st quarter. MJP Associates Inc. ADV now owns 2,373 shares of the coffee company’s stock valued at $259,000 after buying an additional 241 shares in the last quarter. Blue Zone Wealth Advisors LLC grew its holdings in Starbucks by 0.7% during the 1st quarter. Blue Zone Wealth Advisors LLC now owns 30,365 shares of the coffee company’s stock valued at $3,318,000 after buying an additional 213 shares in the last quarter. Ieq Capital LLC grew its holdings in Starbucks by 17.6% during the 1st quarter. Ieq Capital LLC now owns 43,815 shares of the coffee company’s stock valued at $4,787,000 after buying an additional 6,551 shares in the last quarter. Valmark Advisers Inc. grew its holdings in Starbucks by 10.2% during the 1st quarter. Valmark Advisers Inc. now owns 9,354 shares of the coffee company’s stock valued at $1,022,000 after buying an additional 863 shares in the last quarter. Finally, Savant Capital LLC grew its holdings in Starbucks by 1.0% during the 1st quarter. Savant Capital LLC now owns 21,342 shares of the coffee company’s stock valued at $2,332,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds own 67.27% of the company’s stock.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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