BMO Capital Markets Lowers Starbucks (NASDAQ:SBUX) Price Target to $100.00

Starbucks (NASDAQ:SBUX) had its price target reduced by equities research analysts at BMO Capital Markets from $120.00 to $100.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the coffee company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 31.13% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. DZ Bank cut Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Friday, May 3rd. Bank of America increased their price objective on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Evercore ISI cut Starbucks from an “outperform” rating to an “inline” rating and dropped their target price for the stock from $92.00 to $80.00 in a research report on Tuesday, July 16th. Jefferies Financial Group dropped their target price on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Finally, Wedbush dropped their target price on Starbucks from $81.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $91.71.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $76.26 on Monday. Starbucks has a 1-year low of $71.55 and a 1-year high of $107.66. The company has a market capitalization of $86.38 billion, a PE ratio of 21.01, a PEG ratio of 1.73 and a beta of 0.94. The business has a fifty day moving average price of $78.01 and a 200-day moving average price of $85.54.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same period last year, the business earned $0.74 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Starbucks will post 3.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,250 shares of company stock worth $579,375. 1.98% of the stock is currently owned by company insiders.

Institutional Trading of Starbucks

A number of hedge funds have recently modified their holdings of the stock. BKM Wealth Management LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $55,000. SG Americas Securities LLC increased its holdings in shares of Starbucks by 38.2% in the fourth quarter. SG Americas Securities LLC now owns 56,428 shares of the coffee company’s stock valued at $5,418,000 after purchasing an additional 15,606 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of Starbucks by 14.8% in the fourth quarter. HB Wealth Management LLC now owns 31,087 shares of the coffee company’s stock valued at $2,985,000 after purchasing an additional 3,999 shares during the last quarter. Compagnie Lombard Odier SCmA increased its holdings in shares of Starbucks by 49.2% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,031 shares of the coffee company’s stock valued at $99,000 after purchasing an additional 340 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Starbucks by 4.2% in the fourth quarter. Raymond James & Associates now owns 1,491,108 shares of the coffee company’s stock valued at $143,161,000 after purchasing an additional 60,661 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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.