Starbucks (NASDAQ:SBUX) Downgraded by DZ Bank

DZ Bank cut shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a research note released on Friday, Marketbeat reports. The firm currently has $75.00 target price on the coffee company’s stock.

SBUX has been the topic of several other reports. Royal Bank of Canada reaffirmed a sector perform rating and issued a $102.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Stifel Nicolaus lowered their price target on Starbucks from $90.00 to $80.00 and set a hold rating on the stock in a report on Wednesday, May 1st. Barclays lowered their price target on Starbucks from $116.00 to $112.00 and set an overweight rating on the stock in a report on Wednesday, January 31st. Robert W. Baird lowered their price target on Starbucks from $106.00 to $100.00 and set a neutral rating on the stock in a report on Monday, March 18th. Finally, Gordon Haskett lowered Starbucks from a buy rating to a hold rating and set a $100.00 price target on the stock. in a report on Tuesday, January 16th. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $97.09.

Starbucks Stock Down 2.4 %

NASDAQ SBUX opened at $73.11 on Friday. The stock has a market cap of $82.81 billion, a PE ratio of 20.14, a P/E/G ratio of 1.36 and a beta of 0.97. Starbucks has a fifty-two week low of $72.67 and a fifty-two week high of $108.12. The business has a 50 day moving average price of $88.89 and a two-hundred 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 EPS. Sell-side analysts anticipate that Starbucks will post 3.63 EPS for the current fiscal year.

Starbucks Dividend Announcement

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 given 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 Activity at Starbucks

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

Hedge Funds Weigh In On Starbucks

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vima LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at about $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at about $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at about $27,000. Riggs Asset Managment Co. Inc. lifted its holdings 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 buying an additional 300 shares during the last quarter. Finally, Fairman Group LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at about $30,000. Hedge funds and other 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.