Starbucks (NASDAQ:SBUX) Given New $96.00 Price Target at Citigroup

Starbucks (NASDAQ:SBUX) had its target price cut by Citigroup from $99.00 to $96.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the coffee company’s stock. Citigroup’s price target indicates a potential upside of 3.17% from the stock’s current price.

Several other equities research analysts have also recently weighed in on SBUX. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. BMO Capital Markets increased their price target on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Stifel Nicolaus dropped their price target on Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Morgan Stanley increased their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.08.

Starbucks Trading Down 3.9 %

Shares of SBUX stock opened at $93.05 on Wednesday. The stock has a 50 day simple moving average of $95.31 and a 200 day simple moving average of $84.80. Starbucks has a 1 year low of $71.55 and a 1 year high of $107.66. The stock has a market cap of $105.40 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts forecast that Starbucks will post 3.55 EPS for the current year.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 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 chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Starbucks

Institutional investors and hedge funds have recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its position in shares of Starbucks by 45.5% during the first quarter. AdvisorNet Financial Inc now owns 2,024 shares of the coffee company’s stock worth $185,000 after acquiring an additional 633 shares in the last quarter. Brookstone Capital Management raised its position in shares of Starbucks by 18.7% in the first quarter. Brookstone Capital Management now owns 22,345 shares of the coffee company’s stock worth $2,042,000 after buying an additional 3,516 shares in the last quarter. Aspiriant LLC raised its position in shares of Starbucks by 4.0% in the first quarter. Aspiriant LLC now owns 5,539 shares of the coffee company’s stock worth $506,000 after buying an additional 211 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of Starbucks by 21.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 9,929 shares of the coffee company’s stock worth $907,000 after buying an additional 1,766 shares in the last quarter. Finally, ERn Financial LLC raised its position in shares of Starbucks by 4.1% in the first quarter. ERn Financial LLC now owns 4,514 shares of the coffee company’s stock worth $413,000 after buying an additional 177 shares in the last quarter. 72.29% of the stock is owned by 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.