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

Starbucks (NASDAQ:SBUX) had its price target lowered by TD Cowen from $100.00 to $85.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the coffee company’s stock.

A number of other research firms have also recently commented on SBUX. Stifel Nicolaus lowered their target price on shares of Starbucks from $102.00 to $90.00 and set a hold rating for the company in a research note on Thursday, April 11th. Gordon Haskett downgraded Starbucks from a buy rating to a hold rating and set a $100.00 target price on the stock. in a research report on Tuesday, January 16th. Morgan Stanley lowered their price target on Starbucks from $120.00 to $115.00 and set an overweight rating for the company in a research report on Friday, April 12th. Guggenheim cut their price objective on Starbucks from $100.00 to $91.00 and set a buy rating on the stock in a report on Friday, April 19th. Finally, Barclays decreased their target price on Starbucks from $116.00 to $112.00 and set an overweight rating for the company in a report on Wednesday, January 31st. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $97.09.

Starbucks Trading Down 2.4 %

Shares of SBUX opened at $73.11 on Wednesday. The firm has a market cap of $82.81 billion, a PE ratio of 20.14, a P/E/G ratio of 1.39 and a beta of 0.97. Starbucks has a 12 month low of $72.67 and a 12 month high of $108.12. The stock has a fifty day moving average price of $88.89 and a 200-day moving average price of $93.84.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $9.12 billion. During the same quarter last year, the business posted $0.74 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, research analysts forecast that Starbucks will post 3.69 EPS for the current year.

Starbucks Announces Dividend

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

Insiders Place Their Bets

In related news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated 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 approximately $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 7,250 shares of company stock worth $651,738. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. Vima LLC purchased a new stake in Starbucks in the 4th quarter valued at $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the 4th quarter worth $27,000. Fairman Group LLC purchased a new position in shares of Starbucks during the 4th quarter worth $30,000. Finally, Riggs Asset Managment Co. Inc. boosted its position in shares of 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 acquiring an additional 300 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.