Starbucks (NASDAQ:SBUX) Price Target Cut to $85.00 by Analysts at Deutsche Bank Aktiengesellschaft

Starbucks (NASDAQ:SBUX) had its price target reduced by stock analysts at Deutsche Bank Aktiengesellschaft from $89.00 to $85.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the coffee company’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 14.99% from the company’s previous close.

A number of other research firms have also recently issued reports on SBUX. Robert W. Baird decreased their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Jefferies Financial Group decreased their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Guggenheim reduced their target price on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Wells Fargo & Company reduced their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Finally, DZ Bank cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research note on Friday, May 3rd. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $93.08.

Starbucks Price Performance

NASDAQ:SBUX traded up $1.17 during trading hours on Tuesday, reaching $73.92. The company’s stock had a trading volume of 5,908,441 shares, compared to its average volume of 10,335,005. The company has a market cap of $83.73 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 1.64 and a beta of 0.94. Starbucks has a one year low of $71.55 and a one year high of $107.66. The business’s 50-day moving average is $77.87 and its 200-day moving average is $86.31.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter last year, the company earned $0.74 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts predict that Starbucks will post 3.58 EPS for the current fiscal year.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $601,375 over the last quarter. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. First National Trust Co boosted its position in shares of Starbucks by 2.2% during the fourth quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock worth $483,000 after purchasing an additional 106 shares in the last quarter. Quent Capital LLC boosted its position in shares of Starbucks by 2.8% during the fourth quarter. Quent Capital LLC now owns 4,004 shares of the coffee company’s stock worth $384,000 after purchasing an additional 108 shares in the last quarter. Graybill Wealth Management LTD. raised its holdings in shares of Starbucks by 0.3% during the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after acquiring an additional 109 shares during the period. Glass Jacobson Investment Advisors llc raised its holdings in shares of Starbucks by 10.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,246 shares of the coffee company’s stock worth $120,000 after acquiring an additional 113 shares during the period. Finally, Blue Bell Private Wealth Management LLC raised its holdings in shares of Starbucks by 24.6% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 598 shares of the coffee company’s stock worth $57,000 after acquiring an additional 118 shares during the period. 72.29% of the stock is owned by institutional investors.

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.