Starbucks (NASDAQ:SBUX) Price Target Cut to $84.00

Starbucks (NASDAQ:SBUX) had its target price cut by stock analysts at HSBC from $107.00 to $84.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the coffee company’s stock. HSBC’s target price would indicate a potential upside of 14.90% from the stock’s current price.

Several other equities analysts have also weighed in on SBUX. BTIG Research reduced their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group dropped their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. Piper Sandler lowered their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Finally, Wedbush reduced their price target on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Seventeen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $97.09.

Starbucks Stock Down 2.4 %

SBUX opened at $73.11 on Friday. The firm has a market cap of $82.81 billion, a P/E ratio of 20.14, a PEG ratio of 1.36 and a beta of 0.97. Starbucks has a 52 week low of $72.67 and a 52 week high of $108.12. The business’s fifty day simple moving average is $88.89 and its 200 day simple moving average is $93.84.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities analysts expect that Starbucks will post 3.63 EPS for the current fiscal year.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 7,250 shares of company stock worth $651,738 over the last ninety days. Insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Institutional investors have recently added to or reduced their stakes in the business. Vima LLC acquired a new position in Starbucks in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new position in shares of Starbucks in the 4th quarter worth $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks in the 4th quarter valued at $27,000. Riggs Asset Managment Co. Inc. increased its stake in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Fairman Group LLC acquired a new position in Starbucks during the fourth quarter worth $30,000. 72.29% of the stock is 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.