Starbucks (NASDAQ:SBUX) had its price objective upped by equities research analysts at Jefferies Financial Group from $118.00 to $135.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the coffee company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 16.66% from the stock’s previous close.
Several other equities analysts also recently commented on SBUX. BMO Capital Markets upped their price target on shares of Starbucks from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Citigroup increased their target price on shares of Starbucks from $111.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, January 27th. Stephens increased their target price on shares of Starbucks from $115.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 28th. Stifel Nicolaus increased their target price on shares of Starbucks from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Monday, April 26th. Finally, Atlantic Securities assumed coverage on shares of Starbucks in a report on Tuesday, April 13th. They issued an “overweight” rating and a $128.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $120.80.
NASDAQ:SBUX opened at $115.72 on Tuesday. Starbucks has a 52 week low of $70.65 and a 52 week high of $118.98. The company has a market capitalization 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 company has a 50-day moving average of $112.30 and a 200-day moving average of $103.39.
In related news, CEO Kevin R. Johnson sold 170,000 shares of Starbucks stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $111.07, for a total value of $18,881,900.00. Following the completion of the sale, the chief executive officer now owns 515,934 shares of the company’s stock, valued at approximately $57,304,789.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Rachel A. Gonzalez sold 82,894 shares of Starbucks stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $109.50, for a total value of $9,076,893.00. Following the completion of the sale, the executive vice president now directly owns 78,905 shares of the company’s stock, valued at approximately $8,640,097.50. 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 over the last quarter. Company insiders own 0.41% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SBUX. FMR LLC grew its holdings in Starbucks by 1.3% during the 4th quarter. FMR LLC now owns 20,416,742 shares of the coffee company’s stock valued at $2,184,183,000 after buying an additional 259,981 shares in the last quarter. Morgan Stanley grew its holdings in Starbucks by 6.9% during the 4th quarter. Morgan Stanley now owns 13,603,582 shares of the coffee company’s stock valued at $1,455,309,000 after buying an additional 881,073 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Starbucks by 2.0% during the 4th quarter. Wells Fargo & Company MN now owns 11,750,720 shares of the coffee company’s stock valued at $1,257,092,000 after buying an additional 230,070 shares in the last quarter. Norges Bank purchased a new position in Starbucks during the 4th quarter valued at about $1,244,400,000. Finally, Fundsmith LLP grew its holdings in Starbucks by 0.6% during the 4th quarter. Fundsmith LLP now owns 10,441,081 shares of the coffee company’s stock valued at $1,116,987,000 after buying an additional 58,866 shares in the last quarter. 67.27% of the stock is owned by institutional investors.
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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