Starbucks (NASDAQ:SBUX) PT Lowered to $115.00 at Morgan Stanley

Starbucks (NASDAQ:SBUX) had its target price reduced by Morgan Stanley from $120.00 to $115.00 in a research report sent to investors on Friday, Marketbeat.com reports. They currently have an overweight rating on the coffee company’s stock.

Several other equities analysts have also recently issued reports on SBUX. Stephens reiterated an equal weight rating and set a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. TD Cowen reiterated a hold rating and issued a $100.00 price target on shares of Starbucks in a research report on Thursday. BTIG Research lowered their price objective on shares of Starbucks from $125.00 to $115.00 and set a buy rating on the stock in a research note on Wednesday, January 31st. Royal Bank of Canada reissued a sector perform rating and set a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Piper Sandler dropped their price target on Starbucks from $107.00 to $100.00 and set a neutral rating on the stock in a report on Friday, January 19th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $107.71.

Starbucks Stock Performance

Shares of SBUX opened at $84.92 on Friday. The firm has a market capitalization of $96.15 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 1.36 and a beta of 0.97. The stock’s fifty day moving average is $91.86 and its 200-day moving average is $94.61. Starbucks has a one year low of $84.29 and a one year high of $115.48.

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

Starbucks Announces Dividend

The business 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 dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 60.96%.

Insider Transactions 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 transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 4,000 shares of company stock valued at $375,665. 1.98% of the stock is owned by insiders.

Institutional Trading of Starbucks

Institutional investors have recently added to or reduced their stakes in the business. Columbus Macro LLC increased its stake in shares of Starbucks by 17.2% during the 1st quarter. Columbus Macro LLC now owns 6,437 shares of the coffee company’s stock worth $588,000 after purchasing an additional 947 shares during the last quarter. Beech Hill Advisors Inc. lifted its position in shares of Starbucks by 119.8% in the first quarter. Beech Hill Advisors Inc. now owns 43,703 shares of the coffee company’s stock worth $3,994,000 after buying an additional 23,820 shares during the last quarter. Northwest Quadrant Wealth Management LLC boosted its stake in shares of Starbucks by 34.5% during the 1st quarter. Northwest Quadrant Wealth Management LLC now owns 4,266 shares of the coffee company’s stock worth $390,000 after acquiring an additional 1,095 shares in the last quarter. Fermata Advisors LLC acquired a new position in shares of Starbucks during the 1st quarter valued at about $350,000. Finally, Factory Mutual Insurance Co. raised its stake in shares of Starbucks by 9.0% in the 1st quarter. Factory Mutual Insurance Co. now owns 323,100 shares of the coffee company’s stock valued at $29,528,000 after acquiring an additional 26,700 shares in the last quarter. 72.29% of the stock is currently 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.