Piper Sandler Trims Starbucks (NASDAQ:SBUX) Target Price to $85.00

Starbucks (NASDAQ:SBUX) had its target price reduced by equities researchers at Piper Sandler from $88.00 to $85.00 in a report released on Monday, Benzinga reports. The firm presently has a “neutral” rating on the coffee company’s stock. Piper Sandler’s price target would indicate a potential upside of 17.24% from the company’s current price.

SBUX has been the topic of a number of other research reports. Stephens reaffirmed an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Morgan Stanley lowered their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and lowered their target price for the company from $108.00 to $89.00 in a research report on Wednesday, May 1st. Finally, Robert W. Baird lowered their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $96.43.

Starbucks Trading Down 0.5 %

SBUX stock opened at $72.50 on Monday. The business’s 50-day moving average price is $88.03 and its two-hundred day moving average price is $93.53. The firm has a market cap of $82.12 billion, a PE ratio of 19.97, a P/E/G ratio of 1.58 and a beta of 0.97. Starbucks has a 1-year low of $71.80 and a 1-year high of $108.12.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. On average, analysts forecast that Starbucks will post 3.63 earnings per share for the current year.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 7,250 shares of company stock worth $651,738. Company insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Large investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at $26,000. Vima LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at $27,000. Fairman Group LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at $30,000. Finally, Riggs Asset Managment Co. Inc. boosted its holdings in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds 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.