Starbucks (NASDAQ:SBUX) PT Lowered to $84.00 at Jefferies Financial Group

Starbucks (NASDAQ:SBUX) had its price objective lowered by Jefferies Financial Group from $94.00 to $84.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the coffee company’s stock.

SBUX has been the topic of several other research reports. Royal Bank of Canada reaffirmed a sector perform rating and set a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Barclays dropped their price target on shares of Starbucks from $116.00 to $112.00 and set an overweight rating on the stock in a research report on Wednesday, January 31st. TD Cowen dropped their price target on shares of Starbucks from $100.00 to $85.00 and set a hold rating on the stock in a research report on Wednesday. Morgan Stanley dropped their price target on shares of Starbucks from $120.00 to $115.00 and set an overweight rating on the stock in a research report on Friday, April 12th. Finally, Oppenheimer reissued a market perform rating on shares of Starbucks in a research report on Friday, April 19th. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average target price of $97.09.

Starbucks Price Performance

NASDAQ SBUX opened at $73.11 on Wednesday. The firm has a market capitalization of $82.81 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.28 and a beta of 0.97. The company has a 50 day simple moving average of $89.34 and a 200-day simple moving average of $93.98. Starbucks has a 52-week low of $72.67 and a 52-week high of $108.12.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 EPS. On average, analysts predict that Starbucks will post 3.89 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued 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 dividend yield of 3.12%. Starbucks’s dividend payout ratio is 62.81%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated 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 transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 7,250 shares of company stock valued at $651,738 over the last ninety days. 1.98% of the stock is owned by insiders.

Institutional Trading of Starbucks

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBUX. Norges Bank bought a new stake in Starbucks during the 4th quarter worth about $1,240,652,000. Flossbach Von Storch AG raised its holdings in Starbucks by 8,677.8% during the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after purchasing an additional 2,684,470 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Starbucks by 2,624.3% during the 1st quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock worth $196,516,000 after buying an additional 2,071,378 shares during the period. Bank of Nova Scotia grew its position in shares of Starbucks by 342.7% during the 4th quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock worth $207,444,000 after buying an additional 1,672,656 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in shares of Starbucks by 432.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock worth $195,825,000 after buying an additional 1,656,591 shares during the period. 72.29% of the stock is owned by institutional investors.

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.