Starbucks (NASDAQ:SBUX) Given New $115.00 Price Target at Morgan Stanley

Starbucks (NASDAQ:SBUX) had its price target reduced by Morgan Stanley from $120.00 to $115.00 in a research note published on Friday, Marketbeat reports. They currently have an overweight rating on the coffee company’s stock.

A number of other research firms have also recently issued reports on SBUX. Citigroup dropped their price target on shares of Starbucks from $102.00 to $95.00 and set a neutral rating on the stock in a research note on Friday. Stifel Nicolaus dropped their target price on shares of Starbucks from $102.00 to $90.00 and set a hold rating on the stock in a research report on Thursday, April 11th. Wells Fargo & Company restated an overweight rating and set a $105.00 price target on shares of Starbucks in a research report on Monday, April 1st. TD Cowen reiterated a hold rating and issued a $100.00 price objective on shares of Starbucks in a report on Thursday, April 11th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $102.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $107.71.

Starbucks Stock Up 0.3 %

SBUX stock opened at $85.17 on Friday. Starbucks has a 52-week low of $84.29 and a 52-week high of $115.48. The company’s 50-day simple moving average is $91.71 and its 200-day simple moving average is $94.57. The firm has a market cap of $96.43 billion, a P/E ratio of 22.77, a PEG ratio of 1.36 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 EPS. On average, analysts anticipate that Starbucks will post 4.05 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors 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 dividend yield of 2.68%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Insiders Place Their Bets

In other news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of 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 filing with the SEC, which is accessible through this link. Insiders have sold 4,000 shares of company stock valued at $375,665 over the last ninety days. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Several large investors have recently modified their holdings of the business. Quilter Plc purchased a new stake in shares of Starbucks in the 1st quarter valued at approximately $208,530,000. Freedom Wealth Alliance LLC purchased a new stake in Starbucks in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new stake in Starbucks in the fourth quarter valued at approximately $26,000. Vima LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. Finally, DSM Capital Partners LLC purchased a new position in shares of Starbucks during the fourth quarter worth $27,000. Institutional investors and hedge funds 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.