Starbucks (NASDAQ:SBUX) Given New $92.00 Price Target at Wedbush

Starbucks (NASDAQ:SBUX) had its target price cut by equities research analysts at Wedbush from $95.00 to $92.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the coffee company’s stock. Wedbush’s price objective indicates a potential upside of 3.79% from the company’s current price.

Several other research firms also recently issued reports on SBUX. TD Cowen reaffirmed a “hold” rating and set a $100.00 price objective on shares of Starbucks in a report on Thursday, April 11th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a research report on Monday, April 1st. Citigroup cut their price objective on Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Robert W. Baird lowered their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus target price of $106.55.

Starbucks Stock Up 0.9 %

Shares of Starbucks stock traded up $0.80 on Friday, hitting $88.64. 4,288,762 shares of the company traded hands, compared to its average volume of 8,342,929. Starbucks has a 12-month low of $84.29 and a 12-month high of $115.48. The company has a 50-day moving average price of $90.46 and a 200 day moving average price of $94.30. The company has a market cap of $100.36 billion, a PE ratio of 23.71, a PEG ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 business had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the business posted $0.75 EPS. Starbucks’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Starbucks will post 3.99 EPS for the current year.

Insider Buying and Selling

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now directly 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 Securities & Exchange Commission, which is available through this link. Insiders sold 7,250 shares of company stock worth $651,738 in the last quarter. 1.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Starbucks

Institutional investors and hedge funds have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Starbucks by 4.5% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 8,114 shares of the coffee company’s stock worth $741,000 after purchasing an additional 352 shares in the last quarter. Apeiron RIA LLC lifted its holdings in Starbucks by 9.5% during the 3rd quarter. Apeiron RIA LLC now owns 2,747 shares of the coffee company’s stock worth $251,000 after buying an additional 239 shares in the last quarter. Connecticut Wealth Management LLC boosted its position in Starbucks by 10.8% in the 3rd quarter. Connecticut Wealth Management LLC now owns 4,028 shares of the coffee company’s stock valued at $368,000 after buying an additional 394 shares during the last quarter. First Personal Financial Services boosted its position in Starbucks by 0.4% in the 3rd quarter. First Personal Financial Services now owns 78,312 shares of the coffee company’s stock valued at $7,148,000 after buying an additional 336 shares during the last quarter. Finally, Family Firm Inc. increased its stake in shares of Starbucks by 20.8% in the 3rd quarter. Family Firm Inc. now owns 2,915 shares of the coffee company’s stock valued at $266,000 after buying an additional 501 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.