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

Starbucks (NASDAQ:SBUXGet Rating) had its price objective decreased by Barclays from $108.00 to $94.00 in a report issued on Wednesday, The Fly reports. Barclays‘s price objective points to a potential upside of 26.46% from the company’s previous close.

Other analysts have also issued research reports about the company. Wedbush lowered Starbucks from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $105.00 to $91.00 in a research note on Tuesday, April 5th. Zacks Investment Research lowered Starbucks from a “hold” rating to a “sell” rating and set a $83.00 price target on the stock. in a research note on Friday, April 22nd. Cowen decreased their price target on Starbucks from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 2nd. Oppenheimer lowered Starbucks from an “outperform” rating to a “market perform” rating in a research note on Friday, January 7th. Finally, The Goldman Sachs Group lowered Starbucks from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $112.00 to $106.00 in a research note on Wednesday, February 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $104.19.

Shares of NASDAQ:SBUX opened at $74.33 on Wednesday. The business’s 50 day moving average is $84.38 and its 200-day moving average is $99.22. The firm has a market capitalization of $85.50 billion, a PE ratio of 20.04, a PEG 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.

Starbucks (NASDAQ:SBUXGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The coffee company reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.01). The company had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.60 billion. Starbucks had a net margin of 14.47% and a negative return on equity of 56.17%. Starbucks’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. As a group, equities research analysts anticipate that Starbucks will post 3.28 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBUX. Bell Investment Advisors Inc bought a new stake in Starbucks in the third quarter valued at about $25,000. Steward Financial Group LLC bought a new stake in Starbucks in the fourth quarter valued at about $25,000. PYA Waltman Capital LLC bought a new stake in Starbucks in the fourth quarter valued at about $25,000. Rational Advisors LLC increased its holdings in Starbucks by 141.4% in the fourth 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. bought a new stake in Starbucks in the fourth quarter valued at about $25,000. Institutional investors and hedge funds own 69.21% of the company’s stock.

Starbucks Company Profile (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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