Wells Fargo & Company Has Lowered Expectations for Starbucks (NASDAQ:SBUX) Stock Price

Starbucks (NASDAQ:SBUX) had its price objective cut by equities researchers at Wells Fargo & Company from $125.00 to $100.00 in a report released on Tuesday,Briefing.com Automated Import reports. The brokerage currently has an “overweight” rating on the coffee company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 23.95% from the stock’s previous close.

SBUX has been the topic of a number of other reports. BMO Capital Markets increased their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock 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 target price for the company in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.75.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $80.68 on Tuesday. The company has a 50 day moving average of $98.60 and a 200-day moving average of $98.18. Starbucks has a one year low of $71.55 and a one year high of $117.46. The stock has a market cap of $91.64 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the prior year, the company posted $0.90 EPS. Equities research analysts anticipate that Starbucks will post 2.99 earnings per share for the current year.

Hedge Funds Weigh In On Starbucks

Institutional investors have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. acquired a new stake in Starbucks during the 4th quarter valued at $25,000. Financial Life Planners bought a new stake in shares of Starbucks during the 4th quarter worth about $25,000. Graney & King LLC bought a new position in Starbucks in the 4th quarter valued at about $26,000. Collier Financial acquired a new stake in Starbucks during the fourth quarter worth approximately $27,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds 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.