Starbucks (NASDAQ:SBUX) Price Target Raised to $95.00 at Citigroup

Starbucks (NASDAQ:SBUX) had its price objective boosted by Citigroup from $84.00 to $95.00 in a report published on Thursday morning, Marketbeat Ratings reports. The firm currently has a neutral rating on the coffee company’s stock.

Other equities analysts have also recently issued research reports about the stock. Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Royal Bank of Canada raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Securities reissued a “hold” rating and set a $90.00 target price on shares of Starbucks in a research note on Wednesday. UBS Group reduced their price objective on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Finally, Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $98.96.

Starbucks Trading Down 1.1%

Starbucks stock opened at $94.32 on Thursday. The stock has a market cap of $107.19 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 3.59 and a beta of 1.00. The company’s 50-day moving average price is $84.89 and its two-hundred day moving average price is $94.98. Starbucks has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last released 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). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. Research analysts expect that Starbucks will post 2.99 earnings per share for the current fiscal year.

Institutional Trading of Starbucks

A number of hedge funds have recently bought and sold shares of the company. 1248 Management LLC purchased a new stake in Starbucks during the first quarter valued at about $55,000. eCIO Inc. purchased a new stake in Starbucks during the first quarter valued at about $174,000. Cim LLC lifted its stake in Starbucks by 8.2% during the first quarter. Cim LLC now owns 3,949 shares of the coffee company’s stock valued at $387,000 after buying an additional 300 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares in the last quarter. Finally, Modern Wealth Management LLC lifted its position in shares of Starbucks by 27.2% in the first quarter. Modern Wealth Management LLC now owns 9,860 shares of the coffee company’s stock worth $967,000 after purchasing an additional 2,110 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other 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.