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

Starbucks (NASDAQ:SBUX) had its price objective reduced by stock analysts at Guggenheim from $100.00 to $91.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the coffee company’s stock. Guggenheim’s price objective suggests a potential upside of 4.18% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Barclays dropped their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Stephens reissued an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Piper Sandler dropped their price objective on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Wedbush reaffirmed a “neutral” rating and issued a $95.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Finally, BTIG Research lowered their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $106.68.

Starbucks Stock Performance

Shares of SBUX traded up $0.20 during mid-day trading on Friday, hitting $87.35. 6,542,834 shares of the stock were exchanged, compared to its average volume of 8,383,759. The firm has a 50-day moving average of $91.14 and a two-hundred day moving average of $94.42. Starbucks has a 52-week low of $84.29 and a 52-week high of $115.48. The company has a market cap of $98.90 billion, a PE ratio of 23.38, a price-to-earnings-growth 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 earnings per share 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 company had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts predict that Starbucks will post 4.03 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 7,250 shares of company stock valued at $653,183. 1.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Starbucks

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Starbucks by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock valued at $10,362,673,000 after purchasing an additional 1,041,622 shares in the last quarter. State Street Corp increased its stake in Starbucks by 0.3% in the 1st quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock valued at $4,594,235,000 after purchasing an additional 135,644 shares in the last quarter. Morgan Stanley increased its stake in Starbucks by 46.3% in the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after purchasing an additional 8,451,599 shares in the last quarter. Northern Trust Corp increased its position in Starbucks by 1.5% during the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after buying an additional 232,031 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Starbucks in the fourth quarter worth $1,240,652,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

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.