Starbucks (NASDAQ:SBUX) PT Lowered to $100.00 at BTIG Research

Starbucks (NASDAQ:SBUX) had its price target reduced by BTIG Research from $115.00 to $100.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the coffee company’s stock.

A number of other research analysts have also commented on SBUX. Morgan Stanley reduced their price target on shares of Starbucks from $120.00 to $115.00 and set an overweight rating for the company in a research report on Friday, April 12th. Robert W. Baird cut their target price on shares of Starbucks from $106.00 to $100.00 and set a neutral rating for the company in a research report on Monday, March 18th. TD Cowen reiterated a hold rating and issued a $100.00 target price on shares of Starbucks in a research report on Thursday, April 11th. William Blair downgraded shares of Starbucks from an outperform rating to a market perform rating in a research note on Wednesday. Finally, Royal Bank of Canada reaffirmed a sector perform rating and set a $102.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Seventeen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks has an average rating of Hold and an average target price of $97.09.

Starbucks Price Performance

Shares of SBUX stock opened at $73.11 on Wednesday. The company’s fifty day simple moving average is $88.89 and its two-hundred day simple moving average is $93.84. Starbucks has a 1 year low of $72.67 and a 1 year high of $108.12. The stock has a market capitalization of $82.81 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.39 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the previous year, the firm earned $0.74 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that Starbucks will post 3.69 EPS for the current year.

Starbucks Announces Dividend

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

Insiders Place Their Bets

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

Institutional Trading of Starbucks

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vima LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at $26,000. Scarborough Advisors LLC bought a new position in Starbucks during the 4th quarter valued at about $26,000. DSM Capital Partners LLC bought a new position in Starbucks during the 4th quarter valued at about $27,000. Riggs Asset Managment Co. Inc. boosted 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 acquiring an additional 300 shares during the last quarter. Finally, Fairman Group LLC bought a new stake in shares of Starbucks in the fourth quarter worth approximately $30,000. 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.