Starbucks (NASDAQ:SBUX) Price Target Cut to $94.00 by Analysts at Jefferies Financial Group

Starbucks (NASDAQ:SBUX) had its price objective lowered by analysts at Jefferies Financial Group from $100.00 to $94.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the coffee company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 10.25% from the company’s current price.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $105.00 price objective on shares of Starbucks in a research note on Monday, April 1st. HSBC assumed coverage on shares of Starbucks in a research note on Wednesday, December 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, January 16th. Robert W. Baird dropped their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Finally, Morgan Stanley dropped their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $107.43.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.09 during midday trading on Tuesday, hitting $85.26. 2,468,245 shares of the company’s stock traded hands, compared to its average volume of 8,300,478. The company has a market cap of $96.53 billion, a PE ratio of 22.80, a P/E/G ratio of 1.36 and a beta of 0.98. The firm’s fifty day moving average price is $91.71 and its two-hundred day moving average price is $94.57. Starbucks has a twelve month low of $84.29 and a twelve month high of $115.48.

Starbucks (NASDAQ:SBUX) last released its 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 negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the firm posted $0.75 EPS. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts anticipate that Starbucks will post 4.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 4,000 shares of company stock valued at $375,665 in the last 90 days. 1.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BCK Partners Inc. acquired a new stake in shares of Starbucks in the first quarter valued at approximately $2,640,000. American Century Companies Inc. raised its holdings in shares of Starbucks by 7.3% in the first quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock valued at $2,514,000 after purchasing an additional 1,872 shares during the last quarter. Roundview Capital LLC raised its holdings in shares of Starbucks by 37.5% in the first quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after purchasing an additional 1,952 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Starbucks during the first quarter worth $198,000. Finally, Mather Group LLC. increased its holdings in Starbucks by 77.5% during the first quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock worth $629,000 after buying an additional 3,017 shares during the last quarter. Institutional investors 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.