Guggenheim Cuts Starbucks (NASDAQ:SBUX) Price Target to $83.00

Starbucks (NASDAQ:SBUX - Get Free Report) had its price objective reduced by stock analysts at Guggenheim from $95.00 to $83.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a "neutral" rating on the coffee company's stock. Guggenheim's price objective points to a potential upside of 1.21% from the stock's current price.

SBUX has been the topic of several other research reports. Stifel Nicolaus cut their target price on Starbucks from $114.00 to $103.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. BMO Capital Markets lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Robert W. Baird reaffirmed a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research note on Monday, April 7th. UBS Group reduced their price target on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $98.15.

Starbucks Price Performance

Shares of NASDAQ SBUX traded up $1.96 during mid-day trading on Tuesday, hitting $82.01. The company's stock had a trading volume of 18,308,636 shares, compared to its average volume of 11,445,657. The stock has a market cap of $93.16 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The company's fifty day simple moving average is $93.82 and its 200-day simple moving average is $97.45. Starbucks has a one year low of $71.55 and a one year high of $117.46.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Invst LLC boosted its holdings in shares of Starbucks by 1.9% during the 3rd quarter. Invst LLC now owns 20,767 shares of the coffee company's stock worth $2,025,000 after buying an additional 395 shares during the period. Tudor Financial Inc. bought a new stake in shares of Starbucks during the third quarter worth approximately $1,352,000. Fulcrum Equity Management grew its position in shares of Starbucks by 38.8% in the third quarter. Fulcrum Equity Management now owns 4,119 shares of the coffee company's stock valued at $402,000 after purchasing an additional 1,151 shares during the last quarter. Sculati Wealth Management LLC increased its stake in shares of Starbucks by 15.1% during the third quarter. Sculati Wealth Management LLC now owns 10,291 shares of the coffee company's stock worth $940,000 after purchasing an additional 1,350 shares during the period. Finally, World Investment Advisors LLC lifted its holdings in Starbucks by 1,941.0% during the 3rd quarter. World Investment Advisors LLC now owns 71,292 shares of the coffee company's stock worth $6,950,000 after purchasing an additional 67,799 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

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.