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

Starbucks (NASDAQ:SBUX) had its price objective reduced by Citigroup from $100.00 to $88.00 in a research note issued to investors on Friday,Benzinga reports. Citigroup currently has a neutral rating on the coffee company’s stock.

Several other equities analysts have also recently weighed in on the company. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Wells Fargo & Company boosted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. UBS Group boosted their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Stifel Nicolaus increased their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $104.68.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $85.43 on Friday. Starbucks has a 52 week low of $71.55 and a 52 week high of $117.46. The company has a market cap of $97.04 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The firm has a 50 day simple moving average of $102.16 and a 200 day simple moving average of $98.79.

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

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.86%. Starbucks’s payout ratio is presently 78.71%.

Institutional Trading of Starbucks

Hedge funds have recently added to or reduced their stakes in the business. Financial Life Planners acquired a new position in shares of Starbucks during the fourth quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks during the 4th quarter valued at $25,000. Graney & King LLC bought a new stake in Starbucks in the 4th quarter valued at $26,000. Collier Financial bought a new stake in Starbucks in the 4th quarter valued at $27,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Starbucks in the 4th quarter worth $27,000. Institutional investors own 72.29% of the company’s stock.

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.