Starbucks (NASDAQ:SBUX) Given New $85.00 Price Target at UBS Group

Starbucks (NASDAQ:SBUX) had its price objective decreased by UBS Group from $95.00 to $85.00 in a report issued on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the coffee company’s stock.

A number of other brokerages also recently issued reports on SBUX. William Blair downgraded shares of Starbucks from an outperform rating to a market perform rating in a research note on Wednesday. Jefferies Financial Group reduced their price target on shares of Starbucks from $94.00 to $84.00 and set a hold rating on the stock in a research note on Wednesday. Piper Sandler reduced their price target on shares of Starbucks from $107.00 to $100.00 and set a neutral rating on the stock in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a buy rating to a hold rating and reduced their price target for the company from $108.00 to $89.00 in a research note on Wednesday. Finally, Oppenheimer restated a market perform rating on shares of Starbucks in a research note on Friday, April 19th. Sixteen equities research 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.com, Starbucks currently has an average rating of Hold and a consensus target price of $100.39.

Starbucks Stock Performance

NASDAQ:SBUX opened at $74.44 on Wednesday. Starbucks has a 52 week low of $72.67 and a 52 week high of $114.56. The firm has a market cap of $84.28 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 1.49 and a beta of 0.97. The firm’s 50-day simple moving average is $89.76 and its 200 day simple moving average is $94.11.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 50.10% and a net margin of 11.38%. Starbucks’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 earnings per share. Sell-side analysts anticipate that Starbucks will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is 62.81%.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 transaction, 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 is available through this hyperlink. Insiders have sold 7,250 shares of company stock valued at $651,738 in the last three months. 1.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Starbucks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Orca Investment Management LLC boosted its holdings in shares of Starbucks by 6.6% in the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after buying an additional 466 shares during the last quarter. Cerity Partners LLC raised its stake in Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after acquiring an additional 1,281,471 shares during the period. Metis Global Partners LLC raised its stake in Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after acquiring an additional 7,619 shares during the period. Tyche Wealth Partners LLC bought a new stake in Starbucks in the 4th quarter valued at about $794,000. Finally, Insigneo Advisory Services LLC raised its stake in Starbucks by 60.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after acquiring an additional 3,570 shares during the period. 72.29% of the stock is owned by hedge funds and other 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.