Citigroup Raises Starbucks (NASDAQ:SBUX) Price Target to $95.00

Starbucks (NASDAQ:SBUXFree Report) had its price objective boosted by Citigroup from $84.00 to $95.00 in a report published on Thursday, MarketBeat reports. The brokerage currently has a neutral rating on the coffee company’s stock.

SBUX has been the topic of a number of other research reports. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. Robert W. Baird restated a “neutral” rating and issued a $85.00 price objective (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Wells Fargo & Company dropped their price objective on Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen downgraded Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group downgraded Starbucks from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $103.00 to $85.00 in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and an average price target of $98.96.

View Our Latest Research Report on SBUX

Starbucks Price Performance

NASDAQ SBUX opened at $94.32 on Thursday. The company has a 50 day simple moving average of $84.89 and a 200-day simple moving average of $94.98. The firm has a market capitalization of $107.19 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. Starbucks’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. On average, analysts predict that Starbucks will post 2.99 EPS for the current year.

Institutional Investors Weigh In On Starbucks

Hedge funds and other institutional investors have recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Starbucks in the fourth quarter worth $25,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks in the first quarter worth $27,000. Graney & King LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $26,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after acquiring an additional 159 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Starbucks in the first quarter worth $29,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

About Starbucks

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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.

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Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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