Starbucks (NASDAQ:SBUX) PT Lowered to $85.00

Starbucks (NASDAQ:SBUX) had its price objective reduced by UBS Group from $95.00 to $85.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the coffee company’s stock.

Several other equities analysts have also commented on SBUX. Royal Bank of Canada reissued a sector perform rating and set a $102.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Morgan Stanley reduced their price target on Starbucks from $120.00 to $115.00 and set an overweight rating on the stock in a research report on Friday, April 12th. Stephens reissued an equal weight rating and set a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Evercore ISI cut their target price on Starbucks from $120.00 to $92.00 and set an outperform rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group cut their target price on Starbucks from $94.00 to $84.00 and set a hold rating on the stock in a research report on Wednesday. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $97.09.

Starbucks Price Performance

NASDAQ SBUX opened at $73.11 on Wednesday. The firm has a market capitalization of $82.81 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.36 and a beta of 0.97. Starbucks has a 1-year low of $72.67 and a 1-year high of $108.12. The business’s 50-day simple moving average is $88.89 and its 200-day simple moving average is $93.84.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, equities research analysts expect that Starbucks will post 3.63 EPS for the current fiscal year.

Starbucks Dividend Announcement

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 issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.12%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 7,250 shares of company stock worth $651,738 in the last three months. 1.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its position in Starbucks by 3.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 20,757 shares of the coffee company’s stock worth $1,897,000 after acquiring an additional 729 shares during the period. Valley Wealth Managers Inc. acquired a new position in Starbucks during the 1st quarter worth $4,164,000. Richardson Financial Services Inc. boosted its position in Starbucks by 17.5% during the 1st quarter. Richardson Financial Services Inc. now owns 2,715 shares of the coffee company’s stock worth $248,000 after acquiring an additional 405 shares during the period. Clarity Capital Partners LLC boosted its position in Starbucks by 20.1% during the 1st quarter. Clarity Capital Partners LLC now owns 11,996 shares of the coffee company’s stock worth $1,096,000 after acquiring an additional 2,005 shares during the period. Finally, Avidian Wealth Solutions LLC boosted its position in Starbucks by 12.2% during the 1st quarter. Avidian Wealth Solutions LLC now owns 13,238 shares of the coffee company’s stock worth $1,210,000 after acquiring an additional 1,443 shares during the period. 72.29% of the stock is currently 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.