Starbucks (NASDAQ:SBUX) Given New $85.00 Price Target at TD Cowen

Starbucks (NASDAQ:SBUX) had its target price trimmed by TD Cowen from $100.00 to $85.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the coffee company’s stock.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $107.00 to $100.00 and set an overweight rating for the company in a report on Tuesday, March 19th. Royal Bank of Canada restated a sector perform rating and issued a $102.00 target price on shares of Starbucks in a report on Wednesday, January 31st. BMO Capital Markets lowered their target price on shares of Starbucks from $125.00 to $120.00 and set an outperform rating for the company in a report on Wednesday, January 31st. Stifel Nicolaus lowered their target price on shares of Starbucks from $102.00 to $90.00 and set a hold rating for the company in a report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a buy rating to a hold rating and lowered their target price for the company from $108.00 to $89.00 in a report on Wednesday. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $97.09.

Starbucks Stock Down 2.4 %

NASDAQ SBUX opened at $73.11 on Wednesday. Starbucks has a 52 week low of $72.67 and a 52 week high of $108.12. The stock has a market capitalization of $82.81 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.28 and a beta of 0.97. The firm has a 50 day moving average of $89.34 and a two-hundred day moving average of $93.98.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS 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 firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter last year, the firm earned $0.74 EPS. The company’s revenue was down 1.8% on a year-over-year basis. On average, equities research analysts expect that Starbucks will post 3.89 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

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

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the 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 directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 7,250 shares of company stock valued at $651,738. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Starbucks by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after purchasing an additional 1,041,622 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Starbucks by 1.5% during the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after purchasing an additional 232,031 shares during the last quarter. Norges Bank acquired a new stake in shares of Starbucks during the 4th quarter worth about $1,240,652,000. Fisher Asset Management LLC boosted its stake in shares of Starbucks by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after purchasing an additional 268,030 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Starbucks by 11.8% during the 3rd quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock worth $962,144,000 after purchasing an additional 1,115,051 shares during 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.