UBS Group Lowers Starbucks (NASDAQ:SBUX) Price Target to $85.00

Starbucks (NASDAQ:SBUX) had its price objective lowered by investment analysts at UBS Group from $95.00 to $85.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the coffee company’s stock. UBS Group’s target price would indicate a potential upside of 13.44% from the company’s current price.

SBUX has been the topic of several other reports. BMO Capital Markets dropped their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Robert W. Baird decreased their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Barclays decreased their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. JPMorgan Chase & Co. decreased their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, March 19th. Finally, Guggenheim decreased their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Starbucks has a consensus rating of “Hold” and a consensus target price of $100.39.

Starbucks Price Performance

Shares of SBUX stock opened at $74.93 on Wednesday. Starbucks has a fifty-two week low of $72.67 and a fifty-two week high of $109.72. The stock’s 50-day moving average is $89.34 and its two-hundred day moving average is $93.98. The firm has a market cap of $84.87 billion, a P/E ratio of 20.64, a PEG ratio of 1.28 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, research analysts expect that Starbucks will post 3.89 EPS for the current year.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 7,250 shares of company stock valued at $651,738 in the last quarter. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of hedge funds have recently modified their holdings of SBUX. Vima LLC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $26,000. DSM Capital Partners LLC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $27,000. Riggs Asset Managment Co. Inc. raised its holdings in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares in the last quarter. Finally, Fairman Group LLC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

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.