TD Cowen Reiterates Hold Rating for Starbucks (NASDAQ:SBUX)

TD Cowen restated their hold rating on shares of Starbucks (NASDAQ:SBUX) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. TD Cowen currently has a $90.00 price objective on the coffee company’s stock.

A number of other analysts have also recently weighed in on the company. TD Securities reaffirmed a “hold” rating and set a $90.00 price objective on shares of Starbucks in a research report on Thursday. Jefferies Financial Group upgraded Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price on the stock in a research report on Wednesday, April 9th. Guggenheim dropped their price objective on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group lowered shares of Starbucks from a “buy” rating to a “neutral” rating and reduced their target price for the company from $103.00 to $85.00 in a report on Wednesday, April 30th. Finally, Stifel Nicolaus reduced their target price on Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $97.92.

Starbucks Trading Down 2.3%

Shares of SBUX opened at $84.05 on Thursday. The company’s 50-day moving average price is $85.78 and its 200 day moving average price is $95.71. Starbucks has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a market cap of $95.51 billion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Starbucks will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.90%. Starbucks’s dividend payout ratio is currently 88.41%.

Institutional Investors Weigh In On Starbucks

Large investors have recently modified their holdings of the company. Capital & Planning LLC grew its stake in shares of Starbucks by 40.7% during the 4th quarter. Capital & Planning LLC now owns 12,039 shares of the coffee company’s stock worth $1,099,000 after acquiring an additional 3,483 shares during the period. Brighton Jones LLC lifted its holdings in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after acquiring an additional 81,952 shares during the last quarter. Mayflower Financial Advisors LLC boosted its holdings in shares of Starbucks by 26.4% in the 4th quarter. Mayflower Financial Advisors LLC now owns 2,828 shares of the coffee company’s stock worth $258,000 after purchasing an additional 590 shares in the last quarter. R Squared Ltd purchased a new stake in Starbucks in the fourth quarter worth approximately $172,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of Starbucks by 5.0% during the 4th quarter. Hantz Financial Services Inc. now owns 79,927 shares of the coffee company’s stock valued at $7,293,000 after purchasing an additional 3,791 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.