Stifel Nicolaus Issues Pessimistic Forecast for Starbucks (NASDAQ:SBUX) Stock Price

Starbucks (NASDAQ:SBUX) had its target price reduced by analysts at Stifel Nicolaus from $114.00 to $103.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the coffee company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 21.97% from the stock’s previous close.

SBUX has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Barclays upped their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Baird R W cut shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Tuesday, March 18th. Finally, Citigroup lowered their price target on Starbucks from $100.00 to $88.00 and set a “neutral” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.24.

Starbucks Stock Performance

Starbucks stock traded down $1.04 on Tuesday, reaching $84.45. The company’s stock had a trading volume of 1,771,133 shares, compared to its average volume of 11,436,687. Starbucks has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market cap of $95.92 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 3.59 and a beta of 1.00. The business’s fifty day moving average price is $101.63 and its 200 day moving average price is $98.70.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the firm earned $0.90 earnings per share. As a group, equities analysts forecast that Starbucks will post 2.99 earnings per share for the current year.

Institutional Trading of Starbucks

Several hedge funds and other institutional investors have recently modified their holdings of SBUX. TrinityPoint Wealth LLC grew its position in shares of Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR lifted its holdings in shares of Starbucks by 0.8% during the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock worth $1,032,000 after buying an additional 92 shares in the last quarter. Wintrust Investments LLC grew its stake in shares of Starbucks by 7.1% in the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after acquiring an additional 94 shares in the last quarter. Kuhn & Co Investment Counsel boosted its holdings in Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after purchasing an additional 96 shares during the period. Finally, Foster Dykema Cabot & Partners LLC increased its holdings in shares of Starbucks by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock worth $93,000 after purchasing an additional 97 shares during the period. 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.