UBS Group Forecasts Strong Price Appreciation for Starbucks (NASDAQ:SBUX) Stock

Starbucks (NASDAQ:SBUX) had its target price raised by UBS Group from $105.00 to $110.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the coffee company’s stock. UBS Group‘s price target suggests a potential upside of 4.35% from the stock’s previous close.

SBUX has been the topic of a number of other reports. Royal Bank Of Canada restated a “sector perform” rating and issued a $115.00 price target (up from $110.00) on shares of Starbucks in a report on Thursday, July 30th. Evercore reiterated an “outperform” rating on shares of Starbucks in a report on Friday, October 30th. TD Cowen reissued a “buy” rating and issued a $120.00 price objective on shares of Starbucks in a research report on Friday, October 30th. Robert W. Baird dropped their target price on shares of Starbucks from $124.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 2nd. Finally, Guggenheim reaffirmed a “neutral” rating and set a $103.00 target price (up from $97.00) on shares of Starbucks in a research report on Monday. Twenty-one analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and a consensus price target of $108.89.

Starbucks Price Performance

Shares of SBUX traded down $0.75 during mid-day trading on Friday, reaching $105.41. 7,780,544 shares of the company’s stock traded hands, compared to its average volume of 8,180,078. The stock’s 50-day moving average is $99.18 and its two-hundred day moving average is $99.99. Starbucks has a 12 month low of $81.76 and a 12 month high of $111.50. The stock has a market cap of $120.17 billion, a P/E ratio of 47.70, a P/E/G ratio of 1.81 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, October 29th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Starbucks had a negative return on equity of 38.61% and a net margin of 6.66%. Starbucks’s revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 EPS. Research analysts predict that Starbucks will post 3.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Brady Brewer sold 588 shares of the company’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $100.00, for a total value of $58,800.00. Following the completion of the sale, the chief executive officer directly owned 70,920 shares of the company’s stock, valued at $7,092,000. This represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,458 shares of company stock valued at $449,684 over the last ninety days. 0.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Starbucks

Several large investors have recently modified their holdings of the business. Allworth Financial LP increased its holdings in shares of Starbucks by 2.7% in the 3rd quarter. Allworth Financial LP now owns 223,190 shares of the coffee company’s stock valued at $22,808,000 after acquiring an additional 5,937 shares during the period. Fisher Asset Management LLC raised its position in shares of Starbucks by 1.5% in the 3rd quarter. Fisher Asset Management LLC now owns 12,779,234 shares of the coffee company’s stock worth $1,200,737,000 after acquiring an additional 193,849 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Starbucks by 1.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 906,298 shares of the coffee company’s stock worth $85,324,000 after acquiring an additional 15,014 shares in the last quarter. CENTRAL TRUST Co lifted its stake in shares of Starbucks by 2.5% during the 3rd quarter. CENTRAL TRUST Co now owns 49,451 shares of the coffee company’s stock worth $4,646,000 after purchasing an additional 1,226 shares during the last quarter. Finally, Bingham Private Wealth LLC lifted its stake in shares of Starbucks by 7.1% during the 3rd quarter. Bingham Private Wealth LLC now owns 2,199 shares of the coffee company’s stock worth $207,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

About Starbucks

Starbucks Corporation is a global coffee company that roasts, markets and sells coffee and other beverages, along with food and related merchandise. Its offerings include brewed coffee, espresso-based drinks, teas and packaged coffee products.

The company serves customers through company-operated and licensed stores, as well as through retail and food-service partnerships. Its stores also sell items such as mugs and coffee-making equipment.

Founded in Seattle in 1971, Starbucks operates in North America and international markets, including China.