Starbucks (NASDAQ:SBUX) PT Lowered to $80.00

Starbucks (NASDAQ:SBUX) had its price objective decreased by Stifel Nicolaus from $90.00 to $80.00 in a report released on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the coffee company’s stock.

Other research analysts have also issued reports about the stock. Guggenheim dropped their price target on shares of Starbucks from $100.00 to $91.00 and set a buy rating on the stock in a research note on Friday, April 19th. JPMorgan Chase & Co. reduced their price target on Starbucks from $107.00 to $100.00 and set an overweight rating for the company in a report on Tuesday, March 19th. Royal Bank of Canada reaffirmed a sector perform rating and set a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Wedbush reduced their target price on Starbucks from $95.00 to $92.00 and set a neutral rating for the company in a report on Friday, April 26th. Finally, BTIG Research lowered their price target on shares of Starbucks from $115.00 to $100.00 and set a buy rating on the stock in a research note on Wednesday. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $97.09.

Starbucks Stock Performance

NASDAQ:SBUX opened at $73.11 on Wednesday. Starbucks has a 1 year low of $72.67 and a 1 year high of $108.12. The stock has a market cap of $82.81 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.39 and a beta of 0.97. The stock has a 50-day simple moving average of $88.89 and a 200-day simple moving average of $93.84.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, equities research analysts predict that Starbucks will post 3.69 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Activity at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 7,250 shares of company stock worth $651,738 over the last quarter. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Institutional investors have recently modified their holdings of the business. Scarborough Advisors LLC purchased a new stake in Starbucks in the fourth quarter worth $26,000. Vima LLC purchased a new stake in Starbucks in the 4th quarter worth about $26,000. DSM Capital Partners LLC bought a new stake in Starbucks in the 4th quarter valued at about $27,000. Fairman Group LLC purchased a new stake in Starbucks during the fourth quarter valued at about $30,000. Finally, Riggs Asset Managment Co. Inc. boosted its position in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the period. 72.29% of the stock is 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.