Starbucks (NASDAQ:SBUX) Price Target Cut to $94.00

Starbucks (NASDAQ:SBUX) had its target price trimmed by Jefferies Financial Group from $100.00 to $94.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a hold rating on the coffee company’s stock.

SBUX has been the topic of several other research 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. Citigroup decreased their target price on Starbucks from $102.00 to $95.00 and set a neutral rating on the stock in a research report on Friday, April 12th. Wells Fargo & Company reaffirmed an overweight rating and issued a $105.00 target price on shares of Starbucks in a research report on Monday, April 1st. Wedbush reaffirmed a neutral rating and issued a $95.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Finally, 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. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $107.43.

Starbucks Stock Up 1.1 %

NASDAQ:SBUX opened at $87.15 on Tuesday. The stock’s 50 day moving average price is $91.14 and its two-hundred day moving average price is $94.42. The firm has a market capitalization of $98.67 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 1.37 and a beta of 0.97. Starbucks has a 12-month low of $84.29 and a 12-month high of $115.48.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the company posted $0.75 EPS. Starbucks’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts expect that Starbucks will post 4.03 EPS 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 paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is presently 60.96%.

Insiders Place Their Bets

In other 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 7,250 shares of company stock worth $653,183 over the last three months. Insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vima LLC bought a new position in shares of Starbucks in the 4th quarter valued at $26,000. Scarborough Advisors LLC bought a new position in Starbucks during the 4th quarter worth $26,000. Freedom Wealth Alliance LLC bought a new position in Starbucks during the 4th quarter worth $26,000. DSM Capital Partners LLC bought a new position in Starbucks during the 4th quarter worth $27,000. Finally, Riggs Asset Managment Co. Inc. raised its position in Starbucks by 1,578.9% during the 3rd 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 last quarter. 72.29% of the stock is currently owned by institutional investors.

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.