Citigroup Lowers Starbucks (NASDAQ:SBUX) Price Target to $95.00

Starbucks (NASDAQ:SBUX) had its target price reduced by Citigroup from $102.00 to $95.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the coffee company’s stock.

Other analysts have also recently issued reports about the company. Piper Sandler reduced their price target on Starbucks from $107.00 to $100.00 and set a neutral rating on the stock in a report on Friday, January 19th. BTIG Research cut their target price on Starbucks from $125.00 to $115.00 and set a buy rating for the company in a research note on Wednesday, January 31st. JPMorgan Chase & Co. decreased their price objective on Starbucks from $107.00 to $100.00 and set an overweight rating on the stock in a report on Tuesday, March 19th. Robert W. Baird reduced their price target on Starbucks from $106.00 to $100.00 and set a neutral rating on the stock in a research report on Monday, March 18th. Finally, Stifel Nicolaus cut their price objective on Starbucks from $102.00 to $90.00 and set a hold rating on the stock in a research report on Thursday, April 11th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $107.71.

Starbucks Trading Up 0.3 %

Shares of NASDAQ:SBUX opened at $85.17 on Friday. The stock has a market capitalization of $96.43 billion, a P/E ratio of 22.77, a P/E/G ratio of 1.36 and a beta of 0.98. The business has a 50-day moving average price of $91.71 and a two-hundred day moving average price of $94.57. Starbucks has a 1-year low of $84.29 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS 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 company had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the company posted $0.75 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that Starbucks will post 4.05 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.68%. Starbucks’s dividend payout ratio is presently 60.96%.

Insider Activity at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 4,000 shares of company stock worth $375,665. 1.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cerity Partners LLC increased its stake in shares of Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after purchasing an additional 1,281,471 shares during the last quarter. Metis Global Partners LLC increased its position in Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after acquiring an additional 7,619 shares in the last quarter. Insigneo Advisory Services LLC increased its position in Starbucks by 60.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after acquiring an additional 3,570 shares in the last quarter. Motco grew its position in shares of Starbucks by 1.1% during the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after buying an additional 811 shares during the period. Finally, Anchor Investment Management LLC bought a new position in Starbucks during the 4th quarter worth approximately $1,348,000. Institutional investors 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.