Starbucks (NASDAQ:SBUX) PT Lowered to $92.00 at Evercore ISI

Starbucks (NASDAQ:SBUX) had its price objective trimmed by Evercore ISI from $120.00 to $92.00 in a report released on Wednesday, Benzinga reports. The firm currently has an outperform rating on the coffee company’s stock.

A number of other research analysts have also weighed in on the company. Morgan Stanley reduced their target price on Starbucks from $120.00 to $115.00 and set an overweight rating for the company in a report on Friday, April 12th. Stifel Nicolaus reduced their target price on Starbucks from $90.00 to $80.00 and set a hold rating for the company in a report on Wednesday. Piper Sandler reduced their target price on Starbucks from $107.00 to $100.00 and set a neutral rating for the company in a report on Friday, January 19th. Deutsche Bank Aktiengesellschaft lowered Starbucks from a buy rating to a hold rating and reduced their target price for the company from $108.00 to $89.00 in a report on Wednesday. Finally, Barclays reduced their target price on Starbucks from $116.00 to $112.00 and set an overweight rating for the company in a report on Wednesday, January 31st. Seventeen 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, the stock has an average rating of Hold and an average target price of $97.09.

Starbucks Stock Down 2.4 %

NASDAQ SBUX opened at $73.11 on Wednesday. The company has a market cap 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’s 50-day simple moving average is $89.34 and its two-hundred day simple moving average is $93.98. Starbucks has a 52 week low of $72.67 and a 52 week high of $108.12.

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 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 during the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that Starbucks will post 3.89 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date of this dividend 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 Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is currently owned by insiders.

Institutional Trading of Starbucks

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brookstone Capital Management increased its stake in shares of Starbucks by 8.4% during the third quarter. Brookstone Capital Management now owns 18,541 shares of the coffee company’s stock valued at $1,751,000 after buying an additional 1,443 shares during the period. Vicus Capital purchased a new stake in Starbucks in the third quarter worth $237,000. Raymond James Financial Services Advisors Inc. grew its stake in Starbucks by 1.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 647,987 shares of the coffee company’s stock worth $59,142,000 after purchasing an additional 8,374 shares during the period. Simon Quick Advisors LLC grew its stake in Starbucks by 7.9% in the third quarter. Simon Quick Advisors LLC now owns 3,675 shares of the coffee company’s stock worth $335,000 after purchasing an additional 269 shares during the period. Finally, Capital Advisors Inc. OK grew its stake in Starbucks by 11.5% in the third quarter. Capital Advisors Inc. OK now owns 3,789 shares of the coffee company’s stock worth $346,000 after purchasing an additional 391 shares during the period. Institutional investors own 72.29% of the company’s stock.

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.