Starbucks (NASDAQ:SBUX) Downgraded to “Hold” at DZ Bank

DZ Bank lowered shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a report issued on Friday, MarketBeat.com reports. The brokerage currently has $75.00 price objective on the coffee company’s stock.

A number of other research analysts also recently weighed in on the company. TD Cowen reduced their target price on Starbucks from $100.00 to $85.00 and set a hold rating on the stock in a report on Wednesday, May 1st. Barclays decreased their price target on shares of Starbucks from $116.00 to $112.00 and set an overweight rating for the company in a research note on Wednesday, January 31st. Piper Sandler dropped their price objective on shares of Starbucks from $107.00 to $100.00 and set a neutral rating on the stock in a research note on Friday, January 19th. Morgan Stanley lowered their target price on shares of Starbucks from $120.00 to $115.00 and set an overweight rating for the company in a report on Friday, April 12th. Finally, BTIG Research cut their price target on Starbucks from $115.00 to $100.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Starbucks has a consensus rating of Hold and an average target price of $96.43.

Starbucks Trading Down 0.3 %

Shares of NASDAQ:SBUX opened at $72.90 on Friday. Starbucks has a 12 month low of $72.67 and a 12 month high of $108.12. The company has a 50-day moving average price of $88.46 and a 200-day moving average price of $93.69. The company has a market cap of $82.57 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.58 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 earnings per share 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 company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter last year, the firm earned $0.74 EPS. The business’s revenue was down 1.8% on a year-over-year basis. As a group, research analysts forecast that Starbucks will post 3.63 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.13%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Activity

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

Institutional Trading of Starbucks

Several institutional investors have recently made changes to their positions in the business. Orca Investment Management LLC lifted its holdings in shares of Starbucks by 6.6% in the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after buying an additional 466 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after buying an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after buying an additional 7,619 shares during the last quarter. FFT Wealth Management LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at about $209,000. Finally, Tyche Wealth Partners LLC bought a new position in shares of Starbucks in the 4th quarter valued at about $794,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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.