Starbucks (NASDAQ:SBUX) Price Target Lowered to $85.00 at TD Cowen

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

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets decreased their target price on Starbucks from $125.00 to $120.00 and set an outperform rating for the company in a research note on Wednesday, January 31st. Citigroup decreased their target price on Starbucks from $102.00 to $95.00 and set a neutral rating for the company in a research note on Friday, April 12th. Royal Bank of Canada reaffirmed a sector perform rating and set a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Stephens reaffirmed an equal weight rating and set a $110.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Robert W. Baird decreased their target price on Starbucks from $106.00 to $100.00 and set a neutral rating for the company in a research note on Monday, March 18th. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of Hold and a consensus price target of $100.39.

Starbucks Stock Down 15.9 %

Shares of SBUX opened at $74.44 on Wednesday. Starbucks has a 12-month low of $72.67 and a 12-month high of $114.56. The business has a 50-day simple moving average of $89.76 and a two-hundred day simple moving average of $94.11. The stock has a market cap of $84.28 billion, a PE ratio of 19.90, a PEG ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 EPS. On average, equities research analysts expect that Starbucks will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date 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 is presently 60.96%.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 7,250 shares of company stock worth $651,738 over the last 90 days. 1.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Starbucks

Hedge funds have recently bought and sold shares of the business. Scarborough Advisors LLC bought a new stake in Starbucks during the fourth quarter worth $26,000. Vima LLC bought a new stake in Starbucks during the fourth quarter worth $26,000. DSM Capital Partners LLC bought a new stake in Starbucks during the fourth quarter worth $27,000. Fairman Group LLC bought a new stake in Starbucks during the fourth quarter worth $30,000. Finally, Riggs Asset Managment Co. Inc. lifted its holdings in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the period. 72.29% of the stock is currently owned by institutional investors.

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.