Starbucks (NASDAQ:SBUX) Given New $80.00 Price Target at Stifel Nicolaus

Starbucks (NASDAQ:SBUX) had its price objective trimmed by Stifel Nicolaus from $90.00 to $80.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the coffee company’s stock.

Several other research analysts have also issued reports on SBUX. Barclays lowered their target price on Starbucks from $116.00 to $112.00 and set an overweight rating for the company in a research report on Wednesday, January 31st. Wells Fargo & Company restated an overweight rating and set a $105.00 price objective on shares of Starbucks in a research report on Monday, April 1st. Piper Sandler reduced their target price on Starbucks from $107.00 to $100.00 and set a neutral rating on the stock in a report on Friday, January 19th. Stephens restated an equal weight rating and set a $110.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Finally, TD Cowen dropped their price target on shares of Starbucks from $100.00 to $85.00 and set a hold rating on the stock in a research report on Wednesday. Sixteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $100.39.

Starbucks Trading Down 15.9 %

NASDAQ:SBUX opened at $74.44 on Wednesday. The stock’s 50-day moving average is $89.76 and its 200-day moving average is $94.11. Starbucks has a 1-year low of $72.67 and a 1-year high of $114.56. The stock has a market cap of $84.28 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its 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 for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 50.10% and a net margin of 11.38%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 earnings per share. As a group, equities analysts forecast that Starbucks will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.06%. Starbucks’s dividend payout ratio is 62.81%.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 7,250 shares of company stock worth $651,738 in the last ninety days. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC bought a new stake in Starbucks during the fourth quarter worth $26,000. Vima LLC bought a new stake in shares of Starbucks in the 4th quarter worth $26,000. DSM Capital Partners LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at about $27,000. Fairman Group LLC bought a new position in shares of Starbucks during the fourth quarter valued at about $30,000. Finally, Riggs Asset Managment Co. Inc. boosted its holdings in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. 72.29% of the stock is owned by 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.