Citigroup Issues Pessimistic Forecast for Starbucks (NASDAQ:SBUX) Stock Price

Starbucks (NASDAQ:SBUX) had its target price lowered by equities research analysts at Citigroup from $100.00 to $88.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the coffee company’s stock. Citigroup’s price target indicates a potential upside of 3.01% from the company’s current price.

Other research analysts have also recently issued reports about the company. 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. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Tuesday, March 18th. UBS Group lifted their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Stifel Nicolaus increased their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.68.

Starbucks Stock Performance

NASDAQ:SBUX traded up $0.83 during mid-day trading on Friday, hitting $85.43. The company had a trading volume of 10,019,815 shares, compared to its average volume of 11,454,777. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a market cap of $97.04 billion, a P/E ratio of 27.56, a P/E/G ratio of 3.59 and a beta of 1.00. The business’s fifty day moving average is $102.66 and its two-hundred day moving average is $98.85.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SBUX. Financial Life Planners acquired a new stake in shares of Starbucks in the 4th quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the fourth quarter worth about $25,000. Graney & King LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. Collier Financial acquired a new position in Starbucks during the 4th quarter worth approximately $27,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Starbucks in the 4th quarter valued at approximately $27,000. 72.29% of the stock is owned by institutional investors.

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.