Wedbush Lowers Starbucks (NASDAQ:SBUX) Price Target to $95.00

Starbucks (NASDAQ:SBUX) had its target price dropped by analysts at Wedbush from $98.00 to $95.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the coffee company’s stock. Wedbush’s target price indicates a potential downside of 3.91% from the company’s previous close. Wedbush also issued estimates for Starbucks’ FY2024 earnings at $3.31 EPS, Q1 2025 earnings at $0.61 EPS, Q2 2025 earnings at $0.55 EPS, Q2 2025 earnings at $0.71 EPS, Q3 2025 earnings at $1.04 EPS, Q3 2025 earnings at $0.91 EPS and Q4 2025 earnings at $0.81 EPS.

Other analysts have also issued reports about the company. Morgan Stanley lifted their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Bank of America decreased their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Wednesday, October 23rd. Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $103.32.

Starbucks Stock Performance

SBUX stock opened at $98.87 on Thursday. The firm has a market cap of $112.04 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 2.63 and a beta of 0.97. Starbucks has a 1 year low of $71.55 and a 1 year high of $107.66. The stock has a 50-day simple moving average of $95.98 and a 200-day simple moving average of $85.47.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 45.15%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. On average, equities research analysts predict that Starbucks will post 3.45 EPS for the current year.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Hedge funds have recently modified their holdings of the company. Dakota Wealth Management grew its holdings in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after acquiring an additional 300 shares during the period. Fidelis Capital Partners LLC lifted its stake in Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 1,751 shares during the last quarter. LRI Investments LLC acquired a new position in Starbucks in the first quarter worth approximately $136,000. BNP Paribas bought a new position in shares of Starbucks in the first quarter valued at $9,332,000. Finally, Great Valley Advisor Group Inc. increased its holdings in shares of Starbucks by 45.8% in the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after buying an additional 5,377 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.