Research analysts at StockNews.com started coverage on shares of Starbucks (NASDAQ:SBUX – Get Rating) in a research note issued on Thursday. The firm set a “buy” rating on the coffee company’s stock.
Several other equities research analysts also recently weighed in on SBUX. BTIG Research upped their target price on shares of Starbucks from $120.00 to $125.00 in a research note on Wednesday, May 3rd. Barclays boosted their price target on shares of Starbucks from $123.00 to $127.00 in a report on Wednesday, May 3rd. Cowen boosted their price target on shares of Starbucks from $112.00 to $116.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Citigroup boosted their price target on shares of Starbucks from $111.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 6th. Finally, Robert W. Baird boosted their price target on shares of Starbucks from $105.00 to $110.00 in a report on Wednesday, May 3rd. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.31.
Starbucks Stock Performance
Starbucks stock opened at $105.69 on Thursday. Starbucks has a 1 year low of $70.33 and a 1 year high of $115.48. The company’s 50 day simple moving average is $104.82 and its 200-day simple moving average is $102.87. The company has a market capitalization of $121.16 billion, a price-to-earnings ratio of 34.32, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95.
In other news, CFO Rachel Ruggeri sold 736 shares of the stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $105.50, for a total value of $77,648.00. Following the completion of the transaction, the chief financial officer now owns 56,028 shares in the company, valued at approximately $5,910,954. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.98% of the company’s stock.
Hedge Funds Weigh In On Starbucks
Large investors have recently made changes to their positions in the stock. Quilter Plc purchased a new position in shares of Starbucks in the 1st quarter valued at about $208,530,000. America First Investment Advisors LLC acquired a new stake in Starbucks in the 1st quarter valued at about $25,000. My Personal CFO LLC acquired a new stake in Starbucks in the 4th quarter valued at about $25,000. Piershale Financial Group Inc. acquired a new stake in Starbucks in the 4th quarter valued at about $25,000. Finally, Cranbrook Wealth Management LLC acquired a new stake in Starbucks in the 1st quarter valued at about $26,000. Hedge funds and other institutional investors own 69.16% of the company’s stock.
Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.
- Get a free copy of the StockNews.com research report on Starbucks (SBUX)
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