UBS Group Lowers Starbucks (NASDAQ:SBUX) Price Target to $90.00

Starbucks (NASDAQ:SBUX) had its price objective cut by equities research analysts at UBS Group from $105.00 to $90.00 in a research note issued on Monday, MarketBeat.com reports. The brokerage currently has a “neutral” rating on the coffee company’s stock. UBS Group’s price target would indicate a potential upside of 6.07% from the company’s previous close.

SBUX has been the topic of a number of other research reports. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Tuesday, March 18th. BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Stifel Nicolaus reduced their price target on Starbucks from $114.00 to $103.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Wedbush increased their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.60.

Starbucks Price Performance

Starbucks stock opened at $84.85 on Monday. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a market capitalization of $96.38 billion, a PE ratio of 27.37, a P/E/G ratio of 3.59 and a beta of 1.00. The company’s 50-day moving average is $95.08 and its 200-day moving average is $97.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts expect that Starbucks will post 2.99 EPS for the current year.

Hedge Funds Weigh In On Starbucks

Hedge funds have recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Starbucks in the fourth quarter worth $25,000. Financial Life Planners purchased a new stake in shares of Starbucks in the 4th quarter valued at about $25,000. Graney & King LLC bought a new stake in shares of Starbucks during the 4th quarter valued at about $26,000. Collier Financial purchased a new position in shares of Starbucks during the fourth quarter worth about $27,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Starbucks in the fourth quarter valued at approximately $27,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

About Starbucks

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.