Starbucks (NASDAQ:SBUX) PT Lowered to $92.00

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

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Starbucks from $107.00 to $100.00 and set an overweight rating on the stock in a report on Tuesday, March 19th. TD Cowen reduced their price objective on shares of Starbucks from $100.00 to $85.00 and set a hold rating for the company in a research report on Wednesday. Gordon Haskett cut shares of Starbucks from a buy rating to a hold rating and set a $100.00 price objective for the company. in a research report on Tuesday, January 16th. BTIG Research reduced their price objective on shares of Starbucks from $115.00 to $100.00 and set a buy rating for the company in a research report on Wednesday. Finally, Stephens restated an equal weight rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $97.09.

Starbucks Price Performance

SBUX stock opened at $73.11 on Wednesday. The firm’s fifty day simple moving average is $89.34 and its 200-day simple moving average is $93.98. The company has a market capitalization of $82.81 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.28 and a beta of 0.97. Starbucks has a 12 month low of $72.67 and a 12 month high of $108.12.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same period last year, the company posted $0.74 earnings per share. The business’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks will post 3.89 earnings per share for the current 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 dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is currently 62.81%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 7,250 shares of company stock worth $651,738. Insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

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