Citigroup Lowers Starbucks (NASDAQ:SBUX) Price Target to $96.00

Starbucks (NASDAQ:SBUX) had its price target dropped by equities researchers at Citigroup from $99.00 to $96.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the coffee company’s stock. Citigroup’s target price points to a potential downside of 1.18% from the stock’s current price.

Other analysts have also issued research reports about the company. TD Cowen reissued a “buy” rating and issued a $110.00 target price on shares of Starbucks in a report on Wednesday. BMO Capital Markets increased their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.48.

Starbucks Stock Down 0.5 %

Shares of NASDAQ SBUX opened at $97.15 on Wednesday. The firm has a 50-day moving average price of $95.38 and a 200 day moving average price of $84.89. Starbucks has a 52 week low of $71.55 and a 52 week high of $107.66. The stock has a market capitalization of $110.09 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm earned $1.00 EPS. Equities research analysts expect that Starbucks will post 3.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

A number of large investors have recently modified their holdings of the company. AdvisorNet Financial Inc raised its holdings in shares of Starbucks by 45.5% during the first quarter. AdvisorNet Financial Inc now owns 2,024 shares of the coffee company’s stock valued at $185,000 after buying an additional 633 shares during the last quarter. Brookstone Capital Management raised its stake in Starbucks by 18.7% during the 1st quarter. Brookstone Capital Management now owns 22,345 shares of the coffee company’s stock valued at $2,042,000 after acquiring an additional 3,516 shares in the last quarter. Aspiriant LLC boosted its position in Starbucks by 4.0% during the 1st quarter. Aspiriant LLC now owns 5,539 shares of the coffee company’s stock worth $506,000 after acquiring an additional 211 shares during the period. Wealthcare Advisory Partners LLC grew its stake in shares of Starbucks by 21.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 9,929 shares of the coffee company’s stock worth $907,000 after purchasing an additional 1,766 shares in the last quarter. Finally, ERn Financial LLC increased its holdings in shares of Starbucks by 4.1% during the first quarter. ERn Financial LLC now owns 4,514 shares of the coffee company’s stock valued at $413,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.