Starbucks (NASDAQ:SBUX) Given New $92.00 Price Target at Wedbush

Starbucks (NASDAQ:SBUX) had its price objective dropped by equities researchers at Wedbush from $95.00 to $92.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the coffee company’s stock. Wedbush’s target price would suggest a potential upside of 3.79% from the company’s previous close.

SBUX has been the subject of several other reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Stephens reaffirmed an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Stifel Nicolaus cut their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Finally, BMO Capital Markets dropped their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $106.55.

Starbucks Stock Up 0.9 %

Shares of SBUX traded up $0.80 during midday trading on Friday, hitting $88.64. The company’s stock had a trading volume of 4,288,762 shares, compared to its average volume of 8,342,929. Starbucks has a one year low of $84.29 and a one year high of $115.48. The stock has a market capitalization of $100.36 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97. The company’s fifty day simple moving average is $90.46 and its two-hundred day simple moving average is $94.30.

Starbucks (NASDAQ:SBUX) last issued its earnings results 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 negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the firm posted $0.75 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, research analysts predict that Starbucks will post 3.99 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 7,250 shares of company stock valued at $651,738 over the last ninety days. 1.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Willow Creek Wealth Management Inc. raised its position in shares of Starbucks by 3.0% during the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after purchasing an additional 97 shares during the period. Valley Brook Capital Group Inc. raised its holdings in Starbucks by 2.4% during the third quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after buying an additional 100 shares during the last quarter. Charles Schwab Investment Advisory Inc. lifted its stake in shares of Starbucks by 4.6% in the third quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after buying an additional 100 shares in the last quarter. Herold Advisors Inc. grew its holdings in shares of Starbucks by 4.3% during the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock valued at $221,000 after buying an additional 100 shares during the last quarter. Finally, Rodgers Brothers Inc. increased its position in shares of Starbucks by 1.2% during the third quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after acquiring an additional 100 shares in the last quarter. 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.