Starbucks (NASDAQ:SBUX) Upgraded to Buy at Argus

Argus upgraded shares of Starbucks (NASDAQ:SBUX) from a hold rating to a buy rating in a research note released on Tuesday morning, Marketbeat reports. They currently have $115.00 target price on the coffee company’s stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company lifted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Barclays lifted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus lifted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, UBS Group boosted their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $99.28 on Tuesday. The company has a market capitalization of $112.77 billion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks has a 52-week low of $71.55 and a 52-week high of $117.46. The company’s 50 day moving average price is $105.31 and its 200-day moving average price is $99.30.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the company posted $0.90 earnings per share. Analysts forecast that Starbucks will post 2.99 earnings per share for the current year.

Institutional Investors Weigh In On Starbucks

Several institutional investors have recently added to or reduced their stakes in the business. Financial Life Planners bought a new stake in shares of Starbucks during the fourth quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks during the fourth quarter valued at about $25,000. Graney & King LLC bought a new stake in shares of Starbucks during the fourth quarter valued at about $26,000. Collier Financial bought a new stake in shares of Starbucks during the fourth quarter valued at about $27,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks during the fourth quarter valued at about $27,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

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.