Deutsche Bank Aktiengesellschaft Lowers Starbucks (NASDAQ:SBUX) to Hold

Deutsche Bank Aktiengesellschaft lowered shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a research report released on Wednesday morning, MarketBeat Ratings reports. They currently have $89.00 target price on the coffee company’s stock, down from their previous target price of $108.00.

SBUX has been the topic of several other research reports. Oppenheimer reaffirmed a market perform rating on shares of Starbucks in a research note on Friday, April 19th. Guggenheim lowered their price objective on shares of Starbucks from $100.00 to $91.00 and set a buy rating on the stock in a research report on Friday, April 19th. JPMorgan Chase & Co. cut their target price on shares of Starbucks from $107.00 to $100.00 and set an overweight rating for the company in a research report on Tuesday, March 19th. Wedbush lowered their price target on shares of Starbucks from $95.00 to $92.00 and set a neutral rating on the stock in a report on Friday, April 26th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Starbucks presently has a consensus rating of Hold and a consensus price target of $97.09.

Starbucks Price Performance

Starbucks stock opened at $73.11 on Wednesday. The company has a market cap of $82.81 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.28 and a beta of 0.97. Starbucks has a fifty-two week low of $72.67 and a fifty-two week high of $108.12. The firm’s 50 day simple moving average is $89.34 and its 200-day simple moving average is $93.98.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. On average, analysts expect that Starbucks will post 3.89 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Transactions at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the business’s 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 owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 7,250 shares of company stock worth $651,738 over the last three months. 1.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Valley Wealth Managers Inc. bought a new stake in shares of Starbucks in the first quarter valued at about $4,164,000. Richardson Financial Services Inc. lifted its position in shares of Starbucks by 17.5% in the 1st quarter. Richardson Financial Services Inc. now owns 2,715 shares of the coffee company’s stock worth $248,000 after acquiring an additional 405 shares during the period. Clarity Capital Partners LLC grew its holdings in shares of Starbucks by 20.1% during the 1st quarter. Clarity Capital Partners LLC now owns 11,996 shares of the coffee company’s stock worth $1,096,000 after purchasing an additional 2,005 shares in the last quarter. Avidian Wealth Solutions LLC raised its stake in shares of Starbucks by 12.2% in the first quarter. Avidian Wealth Solutions LLC now owns 13,238 shares of the coffee company’s stock valued at $1,210,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in Starbucks in the first quarter worth $3,254,000. Institutional investors own 72.29% of the company’s stock.

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.