Starbucks (NASDAQ:SBUX) PT Lowered to $94.00

Starbucks (NASDAQ:SBUX) had its price objective cut by Jefferies Financial Group from $100.00 to $94.00 in a report published on Tuesday, Benzinga reports. They currently have a hold rating on the coffee company’s stock.

Several other equities analysts also recently issued reports on SBUX. Piper Sandler cut their price objective on Starbucks from $107.00 to $100.00 and set a neutral rating for the company in a research report on Friday, January 19th. BTIG Research cut their price objective on Starbucks from $125.00 to $115.00 and set a buy rating for the company in a research report on Wednesday, January 31st. HSBC initiated coverage on Starbucks in a research report on Wednesday, December 20th. They issued a hold rating and a $107.00 price objective for the company. Wedbush reiterated a neutral rating and issued a $95.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Finally, Wells Fargo & Company reiterated an overweight rating and issued a $105.00 price objective on shares of Starbucks in a research report on Monday, April 1st. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $106.68.

Starbucks Price Performance

Shares of SBUX stock opened at $87.61 on Tuesday. The stock’s fifty day simple moving average is $90.94 and its 200 day simple moving average is $94.39. The firm has a market cap of $99.19 billion, a price-to-earnings ratio of 23.43, a P/E/G ratio of 1.39 and a beta of 0.97. Starbucks has a one year low of $84.29 and a one year high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. Starbucks’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS. On average, research analysts anticipate that Starbucks will post 4.03 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.60%. Starbucks’s payout ratio is 60.96%.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 7,250 shares of company stock valued at $653,183. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBUX. Norges Bank acquired a new position in shares of Starbucks during the fourth quarter worth about $1,240,652,000. Moneta Group Investment Advisors LLC boosted its position in shares of Starbucks by 115,334.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock worth $842,569,000 after buying an additional 8,486,281 shares during the period. Morgan Stanley boosted its position in shares of Starbucks by 46.3% during the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after buying an additional 8,451,599 shares during the period. Flossbach Von Storch AG boosted its position in shares of Starbucks by 8,677.8% during the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after buying an additional 2,684,470 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Starbucks during the first quarter worth about $190,270,000. 72.29% of the stock is owned by institutional investors and hedge funds.

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.