Starbucks (NASDAQ:SBUX) Price Target Cut to $94.00

Starbucks (NASDAQ:SBUX – Get Rating) had its target price dropped by equities research analysts at Cowen from $115.00 to $94.00 in a research note issued on Wednesday, The Fly reports. Cowen’s target price would indicate a potential upside of 26.46% from the company’s previous close.

A number of other analysts have also recently commented on SBUX. Jefferies Financial Group lowered their price target on Starbucks from $142.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, February 2nd. Robert W. Baird lowered their price target on Starbucks from $95.00 to $85.00 in a research note on Monday, April 25th. Credit Suisse Group lowered their price target on Starbucks from $122.00 to $103.00 in a research note on Wednesday. Wedbush cut Starbucks from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $105.00 to $91.00 in a research note on Tuesday, April 5th. Finally, TheStreet cut Starbucks from a “b-” rating to a “c+” rating in a research note on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus target price of $102.73.

Shares of NASDAQ:SBUX opened at $74.33 on Wednesday. The stock has a market capitalization of $85.50 billion, a P/E ratio of 20.04, a P/E/G ratio of 1.93 and a beta of 0.97. Starbucks has a 1-year low of $73.38 and a 1-year high of $126.32. The business has a 50-day moving average price of $84.38 and a two-hundred day moving average price of $99.22.

Starbucks (NASDAQ:SBUX – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The coffee company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.60 billion. Starbucks had a net margin of 14.47% and a negative return on equity of 56.17%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. Sell-side analysts expect that Starbucks will post 3.28 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bell Investment Advisors Inc acquired a new stake in shares of Starbucks in the 3rd quarter valued at approximately $25,000. Steward Financial Group LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $25,000. PYA Waltman Capital LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $25,000. Rational Advisors LLC lifted its holdings in Starbucks by 141.4% during the 4th quarter. Rational Advisors LLC now owns 210 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Finally, Guardian Wealth Management Inc. acquired a new stake in Starbucks during the 4th quarter valued at $25,000. 69.21% of the stock is owned by institutional investors.

About Starbucks (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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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