Stifel Nicolaus Trims Starbucks (NASDAQ:SBUX) Target Price to $80.00

Starbucks (NASDAQ:SBUX) had its target price decreased by Stifel Nicolaus from $90.00 to $80.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the coffee company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 3.63% from the stock’s current price.

A number of other research firms also recently weighed in on SBUX. Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and cut their price target for the company from $108.00 to $89.00 in a research note on Wednesday. Guggenheim lowered their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Morgan Stanley lowered their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Piper Sandler decreased their price objective on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Sixteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $103.41.

Starbucks Stock Down 12.8 %

Shares of SBUX opened at $77.20 on Wednesday. Starbucks has a 12-month low of $77.20 and a 12-month high of $114.56. The firm has a market capitalization of $87.41 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 1.49 and a beta of 0.97. The stock’s 50-day moving average price is $90.17 and its 200 day moving average price is $94.25.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. Equities research analysts expect that Starbucks will post 3.99 EPS for the current year.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 7,250 shares of company stock worth $651,738 over the last three months. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Brookstone Capital Management increased its holdings in Starbucks by 8.4% in the third quarter. Brookstone Capital Management now owns 18,541 shares of the coffee company’s stock valued at $1,751,000 after purchasing an additional 1,443 shares during the period. Vicus Capital acquired a new stake in Starbucks in the third quarter valued at $237,000. Raymond James Financial Services Advisors Inc. increased its holdings in Starbucks by 1.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 647,987 shares of the coffee company’s stock valued at $59,142,000 after purchasing an additional 8,374 shares during the period. Simon Quick Advisors LLC increased its holdings in Starbucks by 7.9% in the third quarter. Simon Quick Advisors LLC now owns 3,675 shares of the coffee company’s stock valued at $335,000 after purchasing an additional 269 shares during the period. Finally, Capital Advisors Inc. OK increased its holdings in Starbucks by 11.5% in the third quarter. Capital Advisors Inc. OK now owns 3,789 shares of the coffee company’s stock valued at $346,000 after purchasing an additional 391 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.