Citigroup Has Lowered Expectations for Starbucks (NASDAQ:SBUX) Stock Price

Starbucks (NASDAQ:SBUX) had its price objective cut by investment analysts at Citigroup from $100.00 to $88.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the coffee company’s stock. Citigroup’s price target indicates a potential upside of 3.01% from the stock’s current price.

A number of other equities analysts also recently issued reports on SBUX. Wells Fargo & Company lifted their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. Wedbush lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Stifel Nicolaus increased their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Robert W. Baird reissued a “neutral” rating and set a $85.00 price target (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $104.68.

Starbucks Stock Performance

Shares of Starbucks stock opened at $85.43 on Friday. The stock has a market capitalization 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 has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a 50 day moving average price of $102.16 and a two-hundred day moving average price of $98.78.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating 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 last year, the firm posted $0.90 earnings per share. Research analysts forecast that Starbucks will post 2.99 EPS for the current year.

Hedge Funds Weigh In On Starbucks

A number of large investors have recently modified their holdings of the company. Invst LLC boosted its stake in Starbucks by 1.9% during the third quarter. Invst LLC now owns 20,767 shares of the coffee company’s stock valued at $2,025,000 after buying an additional 395 shares during the period. Tudor Financial Inc. bought a new stake in shares of Starbucks during the 3rd quarter valued at about $1,352,000. Fulcrum Equity Management grew its holdings in shares of Starbucks by 38.8% during the third quarter. Fulcrum Equity Management now owns 4,119 shares of the coffee company’s stock worth $402,000 after purchasing an additional 1,151 shares in the last quarter. Sculati Wealth Management LLC increased its position in shares of Starbucks by 15.1% in the third quarter. Sculati Wealth Management LLC now owns 10,291 shares of the coffee company’s stock worth $940,000 after purchasing an additional 1,350 shares during the last quarter. Finally, World Investment Advisors LLC raised its stake in Starbucks by 1,941.0% in the third quarter. World Investment Advisors LLC now owns 71,292 shares of the coffee company’s stock valued at $6,950,000 after purchasing an additional 67,799 shares in the last quarter. 72.29% of the stock is currently owned by 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.