Starbucks (NASDAQ:SBUX) Price Target Cut to $100.00 by Analysts at BTIG Research

Starbucks (NASDAQ:SBUX) had its price objective trimmed by BTIG Research from $115.00 to $100.00 in a research note released on Wednesday, Benzinga reports. The firm currently has a buy rating on the coffee company’s stock.

Other equities analysts have also recently issued research reports about the company. Stephens reiterated an equal weight rating and issued a $110.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Barclays reduced their target price on shares of Starbucks from $116.00 to $112.00 and set an overweight rating on the stock in a research note on Wednesday, January 31st. Robert W. Baird dropped their price target on shares of Starbucks from $106.00 to $100.00 and set a neutral rating for the company in a research note on Monday, March 18th. Jefferies Financial Group reduced their price objective on shares of Starbucks from $100.00 to $94.00 and set a hold rating on the stock in a research note on Tuesday, April 16th. Finally, Gordon Haskett lowered shares of Starbucks from a buy rating to a hold rating and set a $100.00 target price for the company. in a report on Tuesday, January 16th. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $97.09.

Starbucks Trading Down 2.4 %

Shares of NASDAQ SBUX opened at $73.11 on Wednesday. Starbucks has a 1-year low of $72.67 and a 1-year high of $108.12. The company has a 50-day moving average of $88.89 and a two-hundred day moving average of $93.84. The company 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 (NASDAQ:SBUX) last posted 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). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. 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 for the quarter was down 1.8% on a year-over-year basis. As a group, equities research analysts forecast that Starbucks will post 3.69 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 3.12%. Starbucks’s dividend payout ratio is presently 62.81%.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 7,250 shares of company stock worth $651,738. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vima LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $26,000. Scarborough Advisors LLC bought a new position in Starbucks during the fourth quarter worth about $26,000. DSM Capital Partners LLC bought a new position in Starbucks during the fourth quarter worth about $27,000. Riggs Asset Managment Co. Inc. grew 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 period. Finally, Fairman Group LLC bought a new position in Starbucks during the fourth quarter worth about $30,000. Institutional investors and hedge funds 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.