Stifel Nicolaus Cuts Starbucks (NASDAQ:SBUX) Price Target to $92.00

Starbucks (NASDAQ:SBUX) had its price target dropped by research analysts at Stifel Nicolaus from $103.00 to $92.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the coffee company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 12.18% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Guggenheim decreased their target price on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Finally, Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective for the company in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.15.

Starbucks Trading Up 2.4 %

Shares of NASDAQ:SBUX opened at $82.01 on Wednesday. Starbucks has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a 50-day moving average price of $93.82 and a 200-day moving average price of $97.45. The company has a market cap of $93.16 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The company had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. Starbucks’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that Starbucks will post 2.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Starbucks

A number of institutional investors and hedge funds have recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Starbucks in the 1st quarter worth $2,425,000. Florida Financial Advisors LLC purchased a new position in Starbucks during the first quarter valued at $226,000. Bleakley Financial Group LLC lifted its position in Starbucks by 16.9% during the first quarter. Bleakley Financial Group LLC now owns 19,349 shares of the coffee company’s stock valued at $1,898,000 after purchasing an additional 2,800 shares in the last quarter. Prudent Man Advisors LLC lifted its position in Starbucks by 5.5% during the first quarter. Prudent Man Advisors LLC now owns 7,150 shares of the coffee company’s stock valued at $701,000 after purchasing an additional 373 shares in the last quarter. Finally, LRI Investments LLC lifted its position in Starbucks by 14.4% during the first quarter. LRI Investments LLC now owns 1,840 shares of the coffee company’s stock valued at $180,000 after purchasing an additional 232 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

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.