Starbucks (NASDAQ:SBUX) Price Target Cut to $84.00

Starbucks (NASDAQ:SBUX) had its target price decreased by stock analysts at HSBC from $107.00 to $84.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the coffee company’s stock. HSBC’s price objective would suggest a potential upside of 14.90% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on SBUX. UBS Group reduced their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday. Evercore ISI reduced their price objective on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Tuesday, January 16th. DZ Bank cut Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Friday. Finally, Stephens restated an “equal weight” rating and set a $110.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $98.38.

Starbucks Price Performance

NASDAQ SBUX traded down $1.82 during trading on Friday, reaching $73.11. 22,115,226 shares of the company’s stock were exchanged, compared to its average volume of 9,469,554. The business has a 50 day moving average price of $89.34 and a 200-day moving average price of $93.98. The stock has a market capitalization of $82.81 billion, a P/E ratio of 20.14, a PEG ratio of 1.28 and a beta of 0.97. Starbucks has a fifty-two week low of $72.67 and a fifty-two week high of $108.12.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. Starbucks’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS. On average, analysts forecast that Starbucks will post 3.89 earnings per share for the current year.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 7,250 shares of company stock worth $651,738. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

A number of institutional investors and hedge funds have recently bought and sold shares of SBUX. Stratos Wealth Advisors LLC increased its holdings in Starbucks by 38.5% in the third quarter. Stratos Wealth Advisors LLC now owns 9,015 shares of the coffee company’s stock valued at $823,000 after purchasing an additional 2,506 shares during the period. Baker Ellis Asset Management LLC increased its holdings in Starbucks by 1.9% in the third quarter. Baker Ellis Asset Management LLC now owns 5,859 shares of the coffee company’s stock valued at $535,000 after purchasing an additional 108 shares during the period. Groesbeck Investment Management Corp NJ increased its holdings in Starbucks by 15.5% in the third quarter. Groesbeck Investment Management Corp NJ now owns 4,727 shares of the coffee company’s stock valued at $431,000 after purchasing an additional 633 shares during the period. Sage Mountain Advisors LLC grew its holdings in Starbucks by 19.4% during the 3rd quarter. Sage Mountain Advisors LLC now owns 8,668 shares of the coffee company’s stock worth $791,000 after acquiring an additional 1,407 shares during the period. Finally, Sawyer & Company Inc grew its holdings in Starbucks by 0.7% during the 3rd quarter. Sawyer & Company Inc now owns 30,082 shares of the coffee company’s stock worth $2,746,000 after acquiring an additional 208 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.