Starbucks (NASDAQ:SBUX) Rating Increased to Buy at Argus

Starbucks (NASDAQ:SBUX) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $115.00 target price on the coffee company’s stock. Argus’ target price would suggest a potential upside of 15.94% from the company’s current price.

SBUX has been the topic of a number of other research reports. UBS Group upped their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. BMO Capital Markets upped their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Finally, Stifel Nicolaus upped their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Trading Up 0.9 %

NASDAQ:SBUX opened at $99.19 on Tuesday. The firm has a market cap of $112.67 billion, a P/E ratio of 32.00, a PEG ratio of 3.59 and a beta of 0.99. The stock’s 50 day simple moving average is $105.18 and its 200-day simple moving average is $99.30. Starbucks has a 12-month low of $71.55 and a 12-month high of $117.46.

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

Hedge Funds Weigh In On Starbucks

Several large investors have recently added to or reduced their stakes in the business. 111 Capital purchased a new position in Starbucks during the fourth quarter worth about $1,080,000. American Assets Investment Management LLC lifted its position in Starbucks by 50.0% during the fourth quarter. American Assets Investment Management LLC now owns 60,000 shares of the coffee company’s stock worth $5,475,000 after buying an additional 20,000 shares during the period. NorthCrest Asset Manangement LLC lifted its position in Starbucks by 0.3% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 170,865 shares of the coffee company’s stock worth $15,591,000 after buying an additional 459 shares during the period. Northstar Financial Companies Inc. purchased a new position in Starbucks during the fourth quarter worth about $351,000. Finally, Centaurus Financial Inc. lifted its position in Starbucks by 10.7% during the fourth quarter. Centaurus Financial Inc. now owns 21,076 shares of the coffee company’s stock worth $1,923,000 after buying an additional 2,031 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

About Starbucks

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.