Starbucks (NASDAQ:SBUX) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft lowered shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a research report released on Wednesday, MarketBeat.com reports. They currently have $89.00 price target on the coffee company’s stock, down from their previous price target of $108.00.

A number of other brokerages have also weighed in on SBUX. Piper Sandler dropped their price objective on Starbucks from $107.00 to $100.00 and set a neutral rating on the stock in a report on Friday, January 19th. Guggenheim lowered their target price on Starbucks from $100.00 to $91.00 and set a buy rating on the stock in a report on Friday, April 19th. Citigroup lowered their target price on Starbucks from $102.00 to $95.00 and set a neutral rating on the stock in a report on Friday, April 12th. BTIG Research lowered their target price on Starbucks from $125.00 to $115.00 and set a buy rating on the stock in a report on Wednesday, January 31st. Finally, Gordon Haskett lowered Starbucks from a buy rating to a hold rating and set a $100.00 target price on the stock. in a report on Tuesday, January 16th. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Starbucks has an average rating of Hold and a consensus target price of $97.09.

Starbucks Trading Down 2.4 %

Shares of NASDAQ SBUX opened at $73.11 on Wednesday. Starbucks has a twelve month low of $72.67 and a twelve month high of $108.12. The stock has a 50 day moving average of $89.34 and a two-hundred day moving average of $93.98. The stock has a market cap of $82.81 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.28 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter last year, the company earned $0.74 EPS. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, research analysts predict that Starbucks will post 3.89 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 31st. Investors of record on Friday, May 17th will be issued 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 payout ratio is 62.81%.

Insider Activity

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is owned by corporate insiders.

Institutional Trading of Starbucks

Several large investors have recently made changes to their positions in SBUX. Vima LLC bought a new stake in shares of Starbucks during the 4th quarter worth about $26,000. Scarborough Advisors LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $27,000. Riggs Asset Managment Co. Inc. boosted its stake in Starbucks by 1,578.9% during the 3rd 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 during the period. Finally, Fairman Group LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $30,000. Institutional investors own 72.29% of the company’s stock.

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.