Wells Fargo & Company Raises Starbucks (NASDAQ:SBUX) Price Target to $129.00

Starbucks (NASDAQ:SBUX) had its price target upped by equities research analysts at Wells Fargo & Company from $126.00 to $129.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the coffee company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 11.48% from the stock’s previous close.

SBUX has been the subject of several other reports. Tigress Financial reiterated a “buy” rating on shares of Starbucks in a report on Sunday, January 31st. Atlantic Securities assumed coverage on Starbucks in a research note on Tuesday, April 13th. They set an “overweight” rating and a $128.00 price target for the company. Gordon Haskett upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the company from $100.00 to $120.00 in a research note on Friday, February 5th. BMO Capital Markets boosted their price target on Starbucks from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Finally, Wedbush boosted their price target on Starbucks from $124.00 to $132.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Starbucks has a consensus rating of “Buy” and an average price target of $120.80.

Shares of Starbucks stock opened at $115.72 on Tuesday. The firm has a market capitalization of $136.24 billion, a P/E ratio of 150.29, a P/E/G ratio of 2.67 and a beta of 0.82. The business has a fifty day simple moving average of $112.30 and a two-hundred day simple moving average of $103.39. Starbucks has a 12 month low of $70.65 and a 12 month high of $118.98.

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

In other news, CEO Kevin R. Johnson sold 170,000 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $111.07, for a total transaction of $18,881,900.00. Following the sale, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rachel A. Gonzalez sold 82,894 shares of the stock in a transaction on Monday, March 29th. The shares were sold at an average price of $109.50, for a total value of $9,076,893.00. Following the sale, the executive vice president now owns 78,905 shares in the company, 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 ninety days. Insiders own 0.41% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Hoey Investments Inc. raised its holdings in Starbucks by 21.7% during the 4th quarter. Hoey Investments Inc. now owns 3,756 shares of the coffee company’s stock valued at $402,000 after buying an additional 670 shares during the period. HBW Advisory Services LLC raised its holdings in Starbucks by 4.5% during the 4th quarter. HBW Advisory Services LLC now owns 39,278 shares of the coffee company’s stock valued at $4,202,000 after buying an additional 1,676 shares during the period. Pettyjohn Wood & White Inc. grew its position in Starbucks by 23.7% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,818 shares of the coffee company’s stock valued at $1,692,000 after acquiring an additional 3,035 shares during the last quarter. YHB Investment Advisors Inc. grew its position in Starbucks by 6.9% in the 4th quarter. YHB Investment Advisors Inc. now owns 17,397 shares of the coffee company’s stock valued at $1,861,000 after acquiring an additional 1,128 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Starbucks by 3.0% in the 4th quarter. Cerity Partners LLC now owns 115,593 shares of the coffee company’s stock valued at $12,366,000 after acquiring an additional 3,360 shares during the last quarter. Institutional investors own 67.27% of the company’s stock.

Starbucks Company Profile

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.

See Also: Net Income

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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