Jefferies Financial Group Trims Starbucks (NASDAQ:SBUX) Target Price to $94.00

Starbucks (NASDAQ:SBUX) had its target price cut by stock analysts at Jefferies Financial Group from $100.00 to $94.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the coffee company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 9.04% from the company’s previous close.

A number of other analysts also recently commented on SBUX. Wells Fargo & Company reiterated an “overweight” rating and issued a $105.00 price objective on shares of Starbucks in a research report on Monday, April 1st. BMO Capital Markets reduced their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. StockNews.com downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. TD Cowen restated a “hold” rating and issued a $100.00 price objective on shares of Starbucks in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $107.43.

Starbucks Price Performance

NASDAQ:SBUX opened at $86.21 on Tuesday. Starbucks has a one year low of $84.29 and a one year high of $115.48. The company has a fifty day moving average price of $91.33 and a 200 day moving average price of $94.47. The stock has a market cap of $97.61 billion, a P/E ratio of 23.05, a PEG ratio of 1.36 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Starbucks will post 4.04 EPS for the current year.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now 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 can be accessed through this hyperlink. Insiders sold 7,250 shares of company stock valued at $653,183 over the last ninety days. 1.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SBUX. Vanguard Group Inc. raised its position in shares of Starbucks by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after acquiring an additional 1,041,622 shares during the last quarter. State Street Corp boosted its holdings in Starbucks by 0.3% in the first quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock valued at $4,594,235,000 after acquiring an additional 135,644 shares during the last quarter. Morgan Stanley increased its position in Starbucks by 46.3% in the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after purchasing an additional 8,451,599 shares during the period. Northern Trust Corp raised its holdings in Starbucks by 1.5% during the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after purchasing an additional 232,031 shares during the last quarter. Finally, Norges Bank acquired a new position in Starbucks during the 4th quarter valued at about $1,240,652,000. 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.