Starbucks (NASDAQ:SBUX) PT Lowered to $90.00 at JPMorgan Chase & Co.

Starbucks (NASDAQ:SBUX) had its price target cut by stock analysts at JPMorgan Chase & Co. from $92.00 to $90.00 in a report released on Wednesday, MarketBeat.com reports. The firm presently has an “overweight” rating on the coffee company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 23.59% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company lowered their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. The Goldman Sachs Group assumed coverage on Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut Starbucks from a “buy” rating to a “hold” rating and reduced their target price for the company from $108.00 to $89.00 in a report on Wednesday, May 1st. Citigroup reduced their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Robert W. Baird cut their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $94.46.

Starbucks Price Performance

SBUX stock traded up $0.07 during midday trading on Wednesday, reaching $72.82. The company had a trading volume of 4,827,261 shares, compared to its average volume of 10,315,553. The company has a market capitalization of $82.48 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.63 and a beta of 0.94. The stock has a 50 day moving average price of $77.91 and a 200-day moving average price of $86.93. Starbucks has a 1-year low of $71.80 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. As a group, research analysts anticipate that Starbucks will post 3.58 earnings per share for the current year.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’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 value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Starbucks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in shares of Starbucks during the third quarter valued at $3,042,000. Neo Ivy Capital Management bought a new position in Starbucks in the third quarter valued at about $566,000. American Century Companies Inc. lifted its holdings in Starbucks by 35.7% in the third quarter. American Century Companies Inc. now owns 2,224,544 shares of the coffee company’s stock valued at $203,034,000 after acquiring an additional 584,979 shares during the period. Fortis Group Advisors LLC bought a new position in Starbucks in the third quarter valued at about $51,000. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Starbucks by 17.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 63,205 shares of the coffee company’s stock valued at $5,769,000 after acquiring an additional 9,617 shares during the period. 72.29% of the stock is owned by hedge funds and other 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.