Wedbush Keeps a Hold Rating on Starbucks (SBUX)

By Ryan Adsit

Wedbush analyst Nick Setyan maintained a Hold rating on Starbucks (SBUXResearch Report) today and set a price target of $84.00. The company’s shares closed last Monday at $76.19.

According to TipRanks.com, Setyan is a 3-star analyst with an average return of 0.9% and a 48.5% success rate. Setyan covers the Services sector, focusing on stocks such as Dine Brands Global, Cheesecake Factory, and Habit Restaurants.

Starbucks has an analyst consensus of Moderate Buy, with a price target consensus of $94.50, a 21.3% upside from current levels. In a report issued on February 27, Robert W. Baird also maintained a Hold rating on the stock with a $94.00 price target.

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Based on Starbucks’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $886 million. In comparison, last year the company had a net profit of $761 million.

Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SBUX in relation to earlier this year. Most recently, in December 2019, Lucy Lee Helm, the evp, chief partner officer of SBUX sold 18,982 shares for a total of $1,679,717.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development.