Guggenheim Issues Pessimistic Forecast for Starbucks (NASDAQ:SBUX) Stock Price

Starbucks (NASDAQ:SBUX) had its target price dropped by investment analysts at Guggenheim from $95.00 to $83.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the coffee company’s stock. Guggenheim’s price objective points to a potential downside of 1.07% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. Citigroup dropped their price target on shares of Starbucks from $100.00 to $88.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Wedbush lifted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Jefferies Financial Group upgraded Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective for the company in a research note on Wednesday, April 9th. Barclays decreased their price target on shares of Starbucks from $124.00 to $106.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.60.

Starbucks Stock Up 0.1 %

NASDAQ:SBUX opened at $83.90 on Tuesday. The company has a market cap of $95.30 billion, a P/E ratio of 27.06, a P/E/G ratio of 3.59 and a beta of 1.00. The firm’s 50 day moving average is $95.65 and its two-hundred day moving average is $97.75. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the firm posted $0.90 EPS. Research analysts forecast that Starbucks will post 2.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Starbucks

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock worth $10,138,442,000 after acquiring an additional 784,432 shares during the last quarter. Capital World Investors boosted its stake in Starbucks by 20.1% during the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the period. FMR LLC grew its holdings in Starbucks by 27.0% in the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after buying an additional 5,348,790 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock valued at $2,259,516,000 after acquiring an additional 548,245 shares during the period. Finally, Wellington Management Group LLP increased its position in Starbucks by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock worth $1,448,030,000 after acquiring an additional 718,880 shares during the period. 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.