Starbucks (NASDAQ:SBUX) Downgraded by DZ Bank

DZ Bank cut shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The firm currently has $75.00 target price on the coffee company’s stock.

A number of other research analysts have also recently commented on SBUX. Guggenheim dropped their price target on Starbucks from $100.00 to $91.00 and set a buy rating for the company in a research note on Friday, April 19th. Stephens restated an equal weight rating and issued a $110.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Evercore ISI decreased their price objective on Starbucks from $120.00 to $92.00 and set an outperform rating for the company in a report on Wednesday, May 1st. Gordon Haskett downgraded Starbucks from a buy rating to a hold rating and set a $100.00 price objective for the company. in a report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. decreased their price objective on Starbucks from $100.00 to $92.00 and set an overweight rating for the company in a report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $97.09.

Starbucks Stock Performance

Shares of SBUX opened at $73.11 on Friday. Starbucks has a 52 week low of $72.67 and a 52 week high of $108.12. The stock has a market capitalization of $82.81 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.36 and a beta of 0.97. The stock has a fifty day moving average of $88.89 and a 200-day moving average of $93.84.

Starbucks (NASDAQ:SBUX) last announced 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). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. As a group, equities analysts forecast that Starbucks will post 3.63 EPS for the current year.

Starbucks Dividend Announcement

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

Insider Activity at Starbucks

In other 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 completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 7,250 shares of company stock worth $651,738. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SBUX. Norges Bank purchased a new position in shares of Starbucks during the 4th quarter valued at $1,240,652,000. Flossbach Von Storch AG lifted its holdings in shares of Starbucks by 8,677.8% during the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after acquiring an additional 2,684,470 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Starbucks by 2,624.3% during the 1st quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock worth $196,516,000 after acquiring an additional 2,071,378 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of Starbucks by 342.7% during the 4th quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock worth $207,444,000 after acquiring an additional 1,672,656 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Starbucks by 432.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock worth $195,825,000 after acquiring an additional 1,656,591 shares during the last quarter. 72.29% of the stock is currently 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.