Starbucks (NASDAQ:SBUX) Price Target Cut to $95.00 by Analysts at Wedbush

Starbucks (NASDAQ:SBUX) had its price objective decreased by equities research analysts at Wedbush from $98.00 to $95.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the coffee company’s stock. Wedbush’s target price would suggest a potential downside of 3.91% from the company’s previous close. Wedbush also issued estimates for Starbucks’ FY2024 earnings at $3.31 EPS, Q1 2025 earnings at $0.61 EPS, Q2 2025 earnings at $0.55 EPS, Q2 2025 earnings at $0.71 EPS, Q3 2025 earnings at $1.04 EPS, Q3 2025 earnings at $0.91 EPS and Q4 2025 earnings at $0.81 EPS.

Other research analysts have also issued reports about the company. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. BMO Capital Markets raised their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. UBS Group boosted their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $103.32.

Starbucks Price Performance

NASDAQ SBUX opened at $98.87 on Thursday. The company has a 50 day simple moving average of $95.98 and a 200-day simple moving average of $85.47. Starbucks has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market capitalization of $112.04 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 2.63 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 45.15%. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the business posted $1.06 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts predict that Starbucks will post 3.45 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dakota Wealth Management raised its stake in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after acquiring an additional 300 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Starbucks during the 1st quarter worth about $136,000. BNP Paribas bought a new position in Starbucks during the 1st quarter valued at about $9,332,000. Finally, Great Valley Advisor Group Inc. boosted its position in Starbucks by 45.8% in the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after buying an additional 5,377 shares in the last quarter. 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.