Starbucks (NASDAQ:SBUX) PT Lowered to $90.00 at Stifel Nicolaus

Starbucks (NASDAQ:SBUX) had its target price lowered by Stifel Nicolaus from $102.00 to $90.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a hold rating on the coffee company’s stock.

A number of other equities research analysts have also issued reports on SBUX. BTIG Research reduced their price target on Starbucks from $125.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday, January 31st. Royal Bank of Canada reaffirmed a sector perform rating and issued a $102.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. JPMorgan Chase & Co. reduced their price target on Starbucks from $107.00 to $100.00 and set an overweight rating on the stock in a research report on Tuesday, March 19th. Citigroup dropped their price objective on Starbucks from $103.00 to $102.00 and set a neutral rating on the stock in a report on Wednesday, March 13th. Finally, HSBC began coverage on Starbucks in a report on Wednesday, December 20th. They issued a hold rating and a $107.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $107.71.

Starbucks Trading Down 1.1 %

SBUX opened at $84.92 on Thursday. The stock’s 50-day moving average price is $91.86 and its 200 day moving average price is $94.59. Starbucks has a 12-month low of $84.29 and a 12-month high of $115.48. The firm has a market cap of $96.15 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.36 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. On average, research analysts forecast that Starbucks will post 4.05 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.68%. Starbucks’s payout ratio is 60.96%.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was 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 directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 4,000 shares of company stock valued at $375,665. 1.98% of the stock is owned by company insiders.

Institutional Trading of Starbucks

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $1,240,652,000. Moneta Group Investment Advisors LLC increased its position in 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 in the last quarter. Morgan Stanley increased its position in 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 in the last quarter. Flossbach Von Storch AG increased its position in 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 in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Starbucks during the first quarter worth $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.