Starbucks (NASDAQ:SBUX) Price Target Lowered to $85.00 at TD Cowen

Starbucks (NASDAQ:SBUX) had its target price cut by TD Cowen from $100.00 to $85.00 in a research note released on Wednesday, Benzinga reports. They currently have a hold rating on the coffee company’s stock.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on Starbucks from $107.00 to $100.00 and set an overweight rating on the stock in a research report on Tuesday, March 19th. Stephens reissued an equal weight rating and set a $110.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Stifel Nicolaus reduced their target price on Starbucks from $102.00 to $90.00 and set a hold rating on the stock in a research note on Thursday, April 11th. Oppenheimer reissued a market perform rating on shares of Starbucks in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft downgraded Starbucks from a buy rating to a hold rating and dropped their price objective for the stock from $108.00 to $89.00 in a report on Wednesday. Sixteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $100.39.

Starbucks Stock Down 15.9 %

Shares of SBUX stock opened at $74.44 on Wednesday. The stock has a market capitalization of $84.28 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97. Starbucks has a 52-week low of $72.67 and a 52-week high of $114.56. The stock’s 50-day moving average price is $89.76 and its 200 day moving average price is $94.11.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter last year, the firm earned $0.74 EPS. The business’s revenue was down 1.8% on a year-over-year basis. Analysts expect that Starbucks will post 3.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.06%. Starbucks’s dividend payout ratio is currently 60.96%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,250 shares of company stock valued at $651,738 over the last 90 days. 1.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Starbucks

Institutional investors and hedge funds have recently bought and sold shares of the business. Vima LLC acquired a new stake in Starbucks in the 4th quarter valued at about $26,000. Scarborough Advisors LLC acquired a new stake in Starbucks in the 4th quarter valued at about $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks in the 4th quarter valued at about $27,000. Riggs Asset Managment Co. Inc. lifted its holdings in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Finally, Fairman Group LLC purchased a new stake in Starbucks during the fourth quarter valued at about $30,000. 72.29% of the stock is 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.