Citigroup Issues Pessimistic Forecast for Starbucks (NASDAQ:SBUX) Stock Price

Starbucks (NASDAQ:SBUX) had its price target decreased by stock analysts at Citigroup from $100.00 to $99.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the coffee company’s stock. Citigroup’s price objective would indicate a potential upside of 11.04% from the company’s current price.

Other analysts have also recently issued reports about the company. Wall Street Zen cut Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Bank of America upped their price target on shares of Starbucks from $101.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 18th. Sanford C. Bernstein raised their price objective on shares of Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective on the stock. in a research report on Thursday, July 17th. Finally, Robert W. Baird upped their target price on shares of Starbucks from $88.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $101.27.

Starbucks Stock Down 3.9%

SBUX opened at $89.16 on Wednesday. The stock has a market cap of $101.32 billion, a P/E ratio of 38.43, a P/E/G ratio of 6.54 and a beta of 1.02. Starbucks has a 12 month low of $72.72 and a 12 month high of $117.46. The company has a fifty day simple moving average of $91.68 and a 200 day simple moving average of $94.62.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. On average, equities research analysts expect that Starbucks will post 2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Capital Wealth Advisors bought a new stake in shares of Starbucks in the fourth quarter valued at about $285,000. Czech National Bank raised its stake in Starbucks by 6.2% in the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock worth $25,591,000 after purchasing an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC boosted its holdings in Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after purchasing an additional 5,151 shares during the period. Treasurer of the State of North Carolina grew its position in shares of Starbucks by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 498,511 shares of the coffee company’s stock worth $45,489,000 after purchasing an additional 3,130 shares in the last quarter. Finally, Norden Group LLC increased its holdings in shares of Starbucks by 66.1% during the first quarter. Norden Group LLC now owns 30,219 shares of the coffee company’s stock worth $2,964,000 after purchasing an additional 12,027 shares during the period. 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.