Starbucks (NASDAQ:SBUX) Price Target Raised to $115.00 at BMO Capital Markets

Starbucks (NASDAQ:SBUX) had its price target boosted by equities research analysts at BMO Capital Markets from $110.00 to $115.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the coffee company’s stock. BMO Capital Markets’ price target suggests a potential upside of 7.23% from the stock’s previous close.

A number of other analysts also recently issued reports on SBUX. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Stifel Nicolaus raised their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday. BTIG Research lifted their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Citigroup upped their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.52.

Starbucks Price Performance

SBUX traded up $6.84 during midday trading on Wednesday, reaching $107.25. 16,842,182 shares of the company’s stock were exchanged, compared to its average volume of 8,148,876. The business’s 50-day moving average price is $95.70 and its 200 day moving average price is $92.89. The stock has a market capitalization of $121.60 billion, a PE ratio of 32.38, a P/E/G ratio of 2.91 and a beta of 0.99. Starbucks has a 1-year low of $71.55 and a 1-year high of $107.47.

Starbucks (NASDAQ:SBUX) last released its quarterly 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 net margin of 10.40% and a negative return on equity of 46.39%. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, analysts expect that Starbucks will post 3.08 EPS for the current fiscal year.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the 2nd quarter valued at $25,000. Financial Life Planners purchased a new position in shares of Starbucks in the fourth quarter valued at $25,000. DT Investment Partners LLC lifted its holdings in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC purchased a new position in Starbucks during the 3rd quarter valued at about $49,000. Finally, Friedenthal Financial bought a new stake in shares of Starbucks during the third quarter valued at about $50,000. 72.29% of the stock is owned by institutional investors and hedge funds.

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.