Starbucks (NASDAQ:SBUX) PT Lowered to $84.00

Starbucks (NASDAQ:SBUX) had its price objective cut by HSBC from $107.00 to $84.00 in a report released on Friday morning, Benzinga reports. They currently have a hold rating on the coffee company’s stock.

A number of other research firms have also recently weighed in on SBUX. William Blair cut Starbucks from an outperform rating to a market perform rating in a report on Wednesday, May 1st. Stifel Nicolaus reduced their price target on Starbucks from $90.00 to $80.00 and set a hold rating for the company in a report on Wednesday, May 1st. Morgan Stanley reduced their target price on Starbucks from $120.00 to $115.00 and set an overweight rating for the company in a report on Friday, April 12th. JPMorgan Chase & Co. reduced their target price on Starbucks from $100.00 to $92.00 and set an overweight rating for the company in a report on Wednesday, May 1st. Finally, DZ Bank cut Starbucks from a buy rating to a hold rating and set a $75.00 target price for the company. in a report on Friday. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of Hold and an average price target of $96.43.

Starbucks Stock Down 0.3 %

Shares of SBUX stock opened at $72.90 on Friday. The stock has a market cap of $82.57 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97. Starbucks has a 52-week low of $72.67 and a 52-week high of $108.12. The business has a 50-day simple moving average of $88.46 and a 200-day simple moving average of $93.69.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. Sell-side analysts anticipate that Starbucks will post 3.63 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors 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 dividend yield of 3.13%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is owned by corporate insiders.

Institutional Trading of Starbucks

Hedge funds and other institutional investors have recently bought and sold shares of the company. Willow Creek Wealth Management Inc. boosted its position in Starbucks by 3.0% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after purchasing an additional 97 shares during the period. Valley Brook Capital Group Inc. boosted its position in Starbucks by 2.4% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after purchasing an additional 100 shares during the period. Charles Schwab Investment Advisory Inc. boosted its position in Starbucks by 4.6% during the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock worth $206,000 after purchasing an additional 100 shares during the period. Herold Advisors Inc. lifted its holdings in Starbucks by 4.3% in the 3rd quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after buying an additional 100 shares in the last quarter. Finally, Rodgers Brothers Inc. boosted its position in Starbucks by 1.2% in the 3rd quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock valued at $755,000 after buying an additional 100 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

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.