Starbucks (NASDAQ:SBUX) Given New $96.00 Price Target at Citigroup

Starbucks (NASDAQ:SBUX - Get Free Report) had its price objective decreased by research analysts at Citigroup from $99.00 to $96.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the coffee company's stock. Citigroup's price target would suggest a potential upside of 3.17% from the stock's current price.

A number of other brokerages have also commented on SBUX. Deutsche Bank Aktiengesellschaft raised Starbucks from a "hold" rating to a "buy" rating and increased their price objective for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and lowered their price objective for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Oppenheimer reissued a "market perform" rating on shares of Starbucks in a report on Monday, August 26th. Morgan Stanley increased their price objective on Starbucks from $98.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Finally, Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and increased their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Starbucks has a consensus rating of "Moderate Buy" and a consensus price target of $102.08.

Starbucks Price Performance

Shares of SBUX stock opened at $93.05 on Wednesday. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The stock's 50-day moving average is $95.31 and its two-hundred day moving average is $84.80. The firm has a market cap of $105.40 billion, a P/E ratio of 25.63, a PEG ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts' consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 EPS. As a group, research analysts expect that Starbucks will post 3.55 EPS for the current year.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company's stock.

Institutional Trading of Starbucks

Institutional investors have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the second quarter valued at about $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks in the second quarter valued at about $26,000. Stephens Consulting LLC increased its position in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company's stock valued at $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks during the second quarter worth approximately $27,000. Finally, Olistico Wealth LLC acquired a new position in shares of Starbucks in the second quarter valued at approximately $31,000. 72.29% of the stock is currently owned by 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.

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