BTIG Research Trims Starbucks (NASDAQ:SBUX) Target Price to $100.00

Starbucks (NASDAQ:SBUX) had its price objective lowered by BTIG Research from $115.00 to $100.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the coffee company’s stock.

Several other equities analysts have also recently issued reports on the stock. Guggenheim decreased their price target on shares of Starbucks from $100.00 to $91.00 and set a buy rating for the company in a research report on Friday, April 19th. Stifel Nicolaus decreased their price objective on shares of Starbucks from $102.00 to $90.00 and set a hold rating for the company in a research report on Thursday, April 11th. Robert W. Baird decreased their price objective on shares of Starbucks from $106.00 to $100.00 and set a neutral rating for the company in a research report on Monday, March 18th. Stephens reiterated an equal weight rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Finally, TD Cowen reiterated a hold rating and set a $100.00 price objective on shares of Starbucks in a research report on Thursday, April 11th. Seventeen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $97.09.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $73.11 on Wednesday. Starbucks has a 52-week low of $72.67 and a 52-week high of $108.12. The firm has a 50 day moving average price of $89.34 and a two-hundred day moving average price of $93.98. The stock 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 (NASDAQ:SBUX) last announced 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 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter last year, the company posted $0.74 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. Analysts predict that Starbucks will post 3.89 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

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

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 7,250 shares of company stock valued at $651,738. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vima LLC bought a new position in shares of Starbucks during the fourth quarter valued at about $26,000. Scarborough Advisors LLC bought a new position in shares of Starbucks during the fourth quarter valued at about $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks during the fourth quarter valued at about $27,000. Riggs Asset Managment Co. Inc. lifted its position in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Fairman Group LLC bought a new position in shares of Starbucks during the fourth quarter valued at about $30,000. 72.29% of the stock is owned by 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.