Starbucks (NASDAQ:SBUX) PT Lowered to $95.00 at Citigroup

Starbucks (NASDAQ:SBUX) had its target price lowered by Citigroup from $102.00 to $95.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the coffee company’s stock.

SBUX has been the subject of several other reports. Wedbush restated a neutral rating and set a $95.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Stifel Nicolaus dropped their price objective on Starbucks from $102.00 to $90.00 and set a hold rating on the stock in a research note on Thursday. BTIG Research decreased their target price on Starbucks from $125.00 to $115.00 and set a buy rating for the company in a research note on Wednesday, January 31st. HSBC began coverage on Starbucks in a research report on Wednesday, December 20th. They set a hold rating and a $107.00 price target on the stock. Finally, TD Cowen reiterated a hold rating and issued a $100.00 price objective on shares of Starbucks in a research report on Thursday. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $107.71.

Starbucks Trading Down 1.1 %

Shares of SBUX stock opened at $84.92 on Friday. Starbucks has a 1 year low of $84.29 and a 1 year high of $115.48. The firm’s 50 day moving average is $91.86 and its 200-day moving average is $94.61. The firm has a market capitalization 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 quarterly earnings data 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%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. On average, equities research analysts forecast that Starbucks will post 4.05 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared 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 of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.68%. Starbucks’s dividend payout ratio is 60.96%.

Insider Transactions at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 4,000 shares of company stock worth $375,665 in the last 90 days. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Starbucks by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock valued at $10,362,673,000 after purchasing an additional 1,041,622 shares during the last quarter. State Street Corp grew its stake in Starbucks by 0.3% in the 1st quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock valued at $4,594,235,000 after buying an additional 135,644 shares during the last quarter. Morgan Stanley raised its holdings in Starbucks by 46.3% in the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after acquiring an additional 8,451,599 shares during the period. Northern Trust Corp lifted its position in Starbucks by 1.5% during the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after acquiring an additional 232,031 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Starbucks during the fourth quarter worth approximately $1,240,652,000. Institutional investors own 72.29% of the company’s stock.

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.