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

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

A number of other analysts have also recently commented on SBUX. Wedbush dropped their price objective on Starbucks from $95.00 to $92.00 and set a neutral rating for the company in a research report on Friday, April 26th. Gordon Haskett lowered shares of Starbucks from a buy rating to a hold rating and set a $100.00 price objective for the company. in a research report on Tuesday, January 16th. Stephens reiterated an equal weight rating and set a $110.00 target price on shares of Starbucks in a research 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 for the company in a report on Monday, March 18th. Finally, William Blair lowered shares of Starbucks from an outperform rating to a market perform rating in a report on Wednesday. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Starbucks has an average rating of Hold and a consensus price target of $100.39.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $74.44 on Wednesday. The company’s fifty day moving average is $89.76 and its two-hundred day moving average is $94.11. The firm has a market capitalization of $84.28 billion, a P/E ratio of 20.51, a PEG ratio of 1.49 and a beta of 0.97. Starbucks has a one year low of $72.67 and a one year high of $114.56.

Starbucks (NASDAQ:SBUX) last released 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). The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 50.10%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. On average, sell-side analysts forecast that Starbucks will post 3.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.06%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated 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 transaction, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 7,250 shares of company stock valued at $651,738 in the last quarter. Corporate insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Institutional investors and hedge funds have recently bought and sold shares of the business. Willow Creek Wealth Management Inc. boosted its holdings in shares of Starbucks by 3.0% in the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after buying an additional 97 shares during the period. Valley Brook Capital Group Inc. increased its stake in Starbucks by 2.4% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock valued at $383,000 after buying an additional 100 shares during the period. Charles Schwab Investment Advisory Inc. boosted its stake in shares of Starbucks by 4.6% during the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after buying an additional 100 shares during the period. Herold Advisors Inc. increased its stake in shares of Starbucks by 4.3% in the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after acquiring an additional 100 shares during the last quarter. Finally, Rodgers Brothers Inc. raised its holdings in shares of Starbucks by 1.2% during the third quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after acquiring an additional 100 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

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.