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

Starbucks (NASDAQ:SBUX) had its price target cut by TD Cowen from $100.00 to $85.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a hold rating on the coffee company’s stock.

Several other brokerages also recently weighed in on SBUX. Wedbush dropped their target price on shares of Starbucks from $95.00 to $92.00 and set a neutral rating for the company in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a buy rating to a hold rating and dropped their price objective for the company from $108.00 to $89.00 in a report on Wednesday. Wells Fargo & Company reissued an overweight rating and set a $105.00 price objective on shares of Starbucks in a report on Monday, April 1st. Royal Bank of Canada reissued a sector perform rating and set a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Finally, Stifel Nicolaus dropped their price objective on shares of Starbucks from $102.00 to $90.00 and set a hold rating for the company in a report on Thursday, April 11th. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $97.09.

Starbucks Price Performance

Shares of SBUX stock opened at $73.11 on Wednesday. Starbucks has a one year low of $72.67 and a one year high of $108.12. The company’s fifty day moving average price is $89.34 and its 200-day moving average price is $93.98. The company has a market capitalization of $82.81 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.28 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its 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 firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 EPS. Equities research analysts expect that Starbucks will post 3.89 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 7,250 shares of company stock valued at $651,738 in the last ninety days. 1.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Starbucks

Hedge funds have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC bought a new position in Starbucks in the 4th quarter worth about $26,000. Vima LLC bought a new position in shares of Starbucks during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks during the fourth quarter valued at approximately $27,000. Fairman Group LLC bought a new position in shares of Starbucks during the fourth quarter valued at approximately $30,000. Finally, Riggs Asset Managment Co. Inc. boosted its stake in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. 72.29% of the stock is currently 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.