Starbucks (NASDAQ:SBUX) Price Target Cut to $85.00 by Analysts at Piper Sandler

Starbucks (NASDAQ:SBUX - Get Free Report) had its target price cut by equities researchers at Piper Sandler from $88.00 to $85.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the coffee company's stock. Piper Sandler's price target would suggest a potential upside of 16.60% from the company's previous close.

Several other research firms also recently weighed in on SBUX. Barclays cut their target price on Starbucks from $116.00 to $112.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 31st. Robert W. Baird dropped their price target on shares of Starbucks from $106.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 18th. Stephens reissued an "equal weight" rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Stifel Nicolaus cut their target price on Starbucks from $90.00 to $80.00 and set a "hold" rating on the stock in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Starbucks presently has an average rating of "Hold" and a consensus price target of $96.43.

Starbucks Trading Down 0.3 %

Shares of NASDAQ:SBUX traded down $0.21 during mid-day trading on Monday, reaching $72.90. The stock had a trading volume of 18,601,605 shares, compared to its average volume of 9,574,881. The company has a market cap of $82.57 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97. The business's 50 day moving average price is $88.46 and its 200 day moving average price is $93.69. Starbucks has a 1 year low of $72.67 and a 1 year high of $108.12.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion for the quarter, compared to analysts' expectations of $9.12 billion. During the same period last year, the company earned $0.74 earnings per share. The firm's revenue was down 1.8% on a year-over-year basis. Analysts predict that Starbucks will post 3.63 earnings per share for the current fiscal year.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 7,250 shares of company stock valued at $651,738. Corporate insiders own 1.98% of the company's stock.

Hedge Funds Weigh In On Starbucks

Several institutional investors and hedge funds have recently bought and sold shares of SBUX. Scarborough Advisors LLC purchased a new position in Starbucks during the 4th quarter worth $26,000. Vima LLC purchased a new stake in shares of Starbucks during the fourth quarter worth about $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks in the 4th quarter valued at approximately $27,000. Fairman Group LLC acquired a new stake in Starbucks in the 4th quarter worth approximately $30,000. Finally, Riggs Asset Managment Co. Inc. grew its position in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company's stock worth $29,000 after purchasing an additional 300 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

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.