Starbucks (NASDAQ:SBUX) PT Lowered to $94.00

Starbucks (NASDAQ:SBUX) had its price objective decreased by analysts at Jefferies Financial Group from $100.00 to $94.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the coffee company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 9.04% from the stock’s current price.

SBUX has been the topic of a number of other reports. BTIG Research dropped their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. JPMorgan Chase & Co. decreased their target price on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. HSBC began coverage on Starbucks in a research report on Wednesday, December 20th. They set a “hold” rating and a $107.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Finally, StockNews.com cut shares of Starbucks from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Starbucks has a consensus rating of “Hold” and a consensus target price of $107.43.

Starbucks Stock Performance

SBUX opened at $86.21 on Tuesday. Starbucks has a one year low of $84.29 and a one year high of $115.48. The stock has a market cap of $97.61 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 1.36 and a beta of 0.97. The stock’s 50 day moving average price is $91.33 and its 200-day moving average price is $94.47.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the company earned $0.75 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, analysts predict that Starbucks will post 4.04 earnings per share for the current fiscal year.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 7,250 shares of company stock valued at $653,183 in the last 90 days. 1.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Starbucks

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Starbucks by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after acquiring an additional 1,041,622 shares in the last quarter. State Street Corp increased its stake in shares of Starbucks by 0.3% during the first quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock worth $4,594,235,000 after purchasing an additional 135,644 shares in the last quarter. Morgan Stanley raised its position in shares of Starbucks by 46.3% during the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after purchasing an additional 8,451,599 shares during the last quarter. Northern Trust Corp lifted its stake in Starbucks by 1.5% in the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after buying an additional 232,031 shares in the last quarter. Finally, Norges Bank acquired a new stake in Starbucks in the 4th quarter worth about $1,240,652,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.