Starbucks (NASDAQ:SBUX) Lowered to “Hold” at DZ Bank

DZ Bank cut shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a research report released on Friday morning, Marketbeat Ratings reports. They currently have $75.00 price target on the coffee company’s stock.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Starbucks from $94.00 to $84.00 and set a hold rating for the company in a research report on Wednesday, May 1st. Wedbush decreased their target price on Starbucks from $95.00 to $92.00 and set a neutral rating for the company in a research report on Friday, April 26th. Evercore ISI dropped their target price on Starbucks from $120.00 to $92.00 and set an outperform rating on the stock in a report on Wednesday, May 1st. Morgan Stanley decreased their price target on Starbucks from $120.00 to $115.00 and set an overweight rating for the company in a report on Friday, April 12th. Finally, Stifel Nicolaus reduced their target price on shares of Starbucks from $90.00 to $80.00 and set a hold rating on the stock in a research report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Starbucks currently has an average rating of Hold and an average price target of $96.43.

Starbucks Trading Down 0.3 %

Shares of Starbucks stock opened at $72.90 on Friday. The stock has a market capitalization of $82.57 billion, a P/E ratio of 20.08, a PEG ratio of 1.58 and a beta of 0.97. The business’s fifty day moving average price is $88.46 and its 200 day moving average price is $93.69. Starbucks has a twelve month low of $72.67 and a twelve month high of $108.12.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the company posted $0.74 EPS. As a group, sell-side analysts predict that Starbucks will post 3.63 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders 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 3.13%. Starbucks’s payout ratio is currently 62.81%.

Insider Activity

In related 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 sale, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is currently owned by insiders.

Institutional Trading of Starbucks

Several hedge funds have recently bought and sold shares of the company. Scarborough Advisors LLC bought a new stake in Starbucks during the 4th quarter valued at $26,000. Vima LLC acquired a new stake in Starbucks in the fourth quarter worth about $26,000. DSM Capital Partners LLC bought a new position in Starbucks in the 4th quarter valued at about $27,000. Riggs Asset Managment Co. Inc. increased its stake in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after buying an additional 300 shares during the period. Finally, Fairman Group LLC bought a new stake in shares of Starbucks during the 4th quarter worth about $30,000. 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.