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

Starbucks (NASDAQ:SBUX - Free Report) had its price objective boosted by Citigroup from $84.00 to $95.00 in a research note issued to investors on Thursday, MarketBeat reports. Citigroup currently has a neutral rating on the coffee company's stock.

Several other analysts have also recently commented on the stock. Stifel Nicolaus decreased their price target on shares of Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Cowen cut shares of Starbucks from a "buy" rating to a "hold" rating in a report on Thursday, May 29th. Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their target price on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Finally, Barclays reduced their target price on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $98.96.

Starbucks Stock Down 1.1%

Shares of Starbucks stock traded down $1.07 during trading on Thursday, hitting $94.32. The stock had a trading volume of 7,179,038 shares, compared to its average volume of 11,062,770. The stock has a 50 day simple moving average of $84.89 and a 200 day simple moving average of $94.98. The company has a market capitalization of $107.19 billion, a PE ratio of 30.43, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 earnings per share. As a group, equities analysts expect that Starbucks will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Starbucks

A number of institutional investors and hedge funds have recently bought and sold shares of SBUX. Nuveen LLC bought a new position in Starbucks during the first quarter worth $1,379,619,000. Norges Bank bought a new position in Starbucks during the fourth quarter worth $1,244,812,000. Capital World Investors increased its position in Starbucks by 20.1% during the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after acquiring an additional 9,174,682 shares during the period. Jennison Associates LLC bought a new position in Starbucks during the first quarter worth $817,759,000. Finally, FMR LLC increased its position in Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after acquiring an additional 5,348,790 shares during the period. Institutional investors 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.