Starbucks (NASDAQ:SBUX) PT Lowered to $95.00

Starbucks (NASDAQ:SBUX) had its price objective cut by equities researchers at Citigroup from $102.00 to $95.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the coffee company’s stock. Citigroup’s price target indicates a potential upside of 11.87% from the stock’s current price.

Several other brokerages also recently issued reports on SBUX. StockNews.com downgraded Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $105.00 price target on shares of Starbucks in a research note on Monday, April 1st. Barclays cut their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Robert W. Baird cut their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Finally, JPMorgan Chase & Co. cut their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, March 19th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average price target of $107.71.

Starbucks Trading Down 1.1 %

Shares of Starbucks stock opened at $84.92 on Friday. The stock has a 50-day moving average price of $91.86 and a 200 day moving average price of $94.59. The company has a market cap of $96.15 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.37 and a beta of 0.97. Starbucks has a 1 year low of $84.29 and a 1 year high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. On average, equities analysts forecast that Starbucks will post 4.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 4,000 shares of company stock worth $375,665. 1.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Starbucks

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vima LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Freedom Wealth Alliance LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. Finally, Riggs Asset Managment Co. Inc. lifted its position in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the period. Institutional investors own 72.29% of the company’s stock.

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.