Starbucks (NASDAQ:SBUX) Price Target Lowered to $90.00 at UBS Group

Starbucks (NASDAQ:SBUX) had its price objective reduced by research analysts at UBS Group from $105.00 to $90.00 in a research report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a “neutral” rating on the coffee company’s stock. UBS Group’s price objective would indicate a potential upside of 6.07% from the stock’s previous close.

Several other research firms have also recently weighed in on SBUX. Stifel Nicolaus cut their price objective on Starbucks from $114.00 to $103.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. BMO Capital Markets upped their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective for the company in a research report on Wednesday, April 9th. Robert W. Baird reaffirmed a “neutral” rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Finally, Wells Fargo & Company lowered their price target on shares of Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $101.60.

Starbucks Price Performance

Shares of SBUX stock opened at $84.85 on Monday. Starbucks has a 1-year low of $71.55 and a 1-year high of $117.46. The business has a 50-day moving average of $95.08 and a 200 day moving average of $97.66. The stock has a market capitalization of $96.38 billion, a PE ratio of 27.37, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the company posted $0.68 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Analysts anticipate that Starbucks will post 2.99 EPS for the current year.

Hedge Funds Weigh In On Starbucks

Hedge funds and other institutional investors have recently modified their holdings of the company. Strategic Financial Concepts LLC purchased a new position in Starbucks in the fourth quarter worth about $62,000. Arizona State Retirement System grew its position in Starbucks by 0.8% during the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after buying an additional 2,722 shares during the period. West Michigan Advisors LLC purchased a new stake in Starbucks during the fourth quarter valued at approximately $265,000. Wernau Asset Management Inc. bought a new position in Starbucks in the fourth quarter worth approximately $258,000. Finally, OFI Invest Asset Management purchased a new position in shares of Starbucks during the 4th quarter worth $9,497,000. 72.29% of the stock is owned by institutional investors.

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.