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

Starbucks (NASDAQ:SBUX) had its price objective hoisted by stock analysts at UBS Group from $98.00 to $105.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the coffee company’s stock. UBS Group’s price target points to a potential downside of 0.48% from the stock’s current price.

Several other research analysts also recently commented on SBUX. Stifel Nicolaus lifted their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Bank of America decreased their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.32.

Starbucks Stock Up 5.1 %

NASDAQ:SBUX traded up $5.10 during midday trading on Wednesday, hitting $105.51. The company had a trading volume of 6,902,833 shares, compared to its average volume of 7,493,912. The stock’s fifty day moving average price is $95.70 and its 200-day moving average price is $92.89. Starbucks has a 52-week low of $71.55 and a 52-week high of $107.23. The company has a market capitalization of $119.62 billion, a PE ratio of 31.74, a P/E/G ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued 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 46.39% and a net margin of 10.40%. During the same period last year, the company earned $0.90 earnings per share. As a group, research analysts forecast that Starbucks will post 3.08 earnings per share for the current year.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SBUX. Wellington Management Group LLP increased its stake in Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares in the last quarter. FMR LLC raised its stake in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Starbucks by 1,491.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after purchasing an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Starbucks by 1,078.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after buying an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Starbucks in the third quarter valued at about $126,574,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.