Starbucks (NASDAQ:SBUX) Price Target Lowered to $91.00 at Guggenheim

Starbucks (NASDAQ:SBUX) had its price target cut by investment analysts at Guggenheim from $100.00 to $91.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the coffee company’s stock. Guggenheim’s price target points to a potential upside of 4.18% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. TD Cowen restated a “hold” rating and issued a $100.00 price target on shares of Starbucks in a research note on Thursday, April 11th. Wells Fargo & Company reiterated an “overweight” rating and set a $105.00 price objective on shares of Starbucks in a research note on Monday, April 1st. Jefferies Financial Group reduced their price objective on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday. Stifel Nicolaus reduced their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Finally, Piper Sandler reduced their price target on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $106.68.

Starbucks Stock Performance

Shares of SBUX stock traded up $0.20 on Friday, hitting $87.35. The company’s stock had a trading volume of 6,542,834 shares, compared to its average volume of 8,383,759. The stock’s 50 day moving average is $91.14 and its 200-day moving average is $94.42. Starbucks has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The company has a market capitalization of $98.90 billion, a PE ratio of 23.38, a PEG ratio of 1.39 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the company posted $0.75 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. On average, research analysts forecast that Starbucks will post 4.03 earnings per share for the current year.

Insider Transactions at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the business’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 transaction, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 7,250 shares of company stock worth $653,183. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cerity Partners LLC raised its holdings in Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after buying an additional 1,281,471 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after acquiring an additional 7,619 shares in the last quarter. Tyche Wealth Partners LLC bought a new stake in shares of Starbucks in the 4th quarter worth $794,000. Insigneo Advisory Services LLC grew its stake in shares of Starbucks by 60.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after acquiring an additional 3,570 shares in the last quarter. Finally, Motco grew its position in Starbucks by 1.1% during the third quarter. Motco now owns 74,829 shares of the coffee company’s stock valued at $6,830,000 after buying an additional 811 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.