Starbucks (NASDAQ:SBUX) Price Target Cut to $94.00 by Analysts at Jefferies Financial Group

Starbucks (NASDAQ:SBUX) had its price objective decreased by Jefferies Financial Group from $100.00 to $94.00 in a report issued on Tuesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the coffee company’s stock.

SBUX has been the subject of a number of other reports. Barclays decreased 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. Gordon Haskett lowered Starbucks from a buy rating to a hold rating and set a $100.00 target price for the company. in a report on Tuesday, January 16th. Wedbush reiterated a neutral rating and issued a $95.00 target price on shares of Starbucks in a report on Wednesday, January 31st. HSBC began coverage on Starbucks in a report on Wednesday, December 20th. They issued a hold rating and a $107.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on Starbucks from $107.00 to $100.00 and set an overweight rating for the company in a report on Tuesday, March 19th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $107.43.

Starbucks Stock Up 0.3 %

SBUX opened at $85.42 on Tuesday. Starbucks has a 52 week low of $84.29 and a 52 week high of $115.48. The business has a fifty day simple moving average of $91.51 and a 200-day simple moving average of $94.53. The firm has a market cap of $96.71 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.36 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Sell-side analysts expect that Starbucks will post 4.05 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared 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. This represents a $2.28 annualized dividend and a yield of 2.67%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated 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 approximately $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,000 shares of company stock worth $375,665 in the last quarter. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Several institutional investors have recently added to or reduced their stakes in the stock. Quilter Plc acquired a new position in Starbucks during the 1st quarter worth approximately $208,530,000. Freedom Wealth Alliance LLC acquired a new position in Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new position in Starbucks during the 4th quarter worth approximately $26,000. Vima LLC acquired a new position in Starbucks during the 4th quarter worth approximately $26,000. Finally, DSM Capital Partners LLC acquired a new position in Starbucks during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds 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.