Citigroup Cuts Starbucks (NASDAQ:SBUX) Price Target to $88.00

Starbucks (NASDAQ:SBUX) had its price objective reduced by Citigroup from $100.00 to $88.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the coffee company’s stock.

Other research analysts have also issued research reports about the company. Barclays boosted their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a research note on Wednesday, April 9th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. BMO Capital Markets boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Wedbush raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.68.

Starbucks Stock Up 1.0 %

Shares of NASDAQ SBUX opened at $85.43 on Friday. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The business has a 50 day moving average price of $102.16 and a two-hundred day moving average price of $98.79. The firm has a market cap of $97.04 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the company earned $0.90 earnings per share. On average, analysts anticipate that Starbucks will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.86%. Starbucks’s dividend payout ratio is currently 78.71%.

Institutional Investors Weigh In On Starbucks

Hedge funds and other institutional investors have recently bought and sold shares of the business. TrinityPoint Wealth LLC grew its stake in shares of Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock worth $312,000 after purchasing an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR grew its position in Starbucks by 0.8% in the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock worth $1,032,000 after buying an additional 92 shares during the last quarter. Wintrust Investments LLC grew its position in Starbucks by 7.1% in the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after buying an additional 94 shares during the last quarter. Kuhn & Co Investment Counsel increased its holdings in shares of Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after buying an additional 96 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC grew its holdings in shares of Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock worth $93,000 after acquiring an additional 97 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

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.