Stifel Nicolaus Trims Starbucks (NASDAQ:SBUX) Target Price to $80.00

Starbucks (NASDAQ:SBUX) had its price target reduced by Stifel Nicolaus from $90.00 to $80.00 in a report issued on Wednesday, Benzinga reports. They currently have a hold rating on the coffee company’s stock.

SBUX has been the topic of a number of other reports. Oppenheimer reissued a market perform rating on shares of Starbucks in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a buy rating to a hold rating and decreased their price objective for the company from $108.00 to $89.00 in a research note on Wednesday. Morgan Stanley decreased their price objective on shares of Starbucks from $120.00 to $115.00 and set an overweight rating on the stock in a research note on Friday, April 12th. Gordon Haskett cut shares of Starbucks from a buy rating to a hold rating and set a $100.00 target price on the stock. in a research note on Tuesday, January 16th. Finally, Jefferies Financial Group decreased their target price on shares of Starbucks from $100.00 to $94.00 and set a hold rating on the stock in a research note on Tuesday, April 16th. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks presently has a consensus rating of Hold and an average target price of $97.09.

Starbucks Trading Down 2.4 %

NASDAQ SBUX opened at $73.11 on Wednesday. Starbucks has a 1-year low of $72.67 and a 1-year high of $108.12. The company has a 50 day moving average of $89.34 and a 200-day moving average of $93.98. The company has a market cap 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 announced its quarterly earnings data 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 firm had revenue of $8.56 billion during 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%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.74 earnings per share. On average, equities research analysts forecast that Starbucks will post 3.89 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 3.12%. Starbucks’s payout ratio is 62.81%.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were 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 $7,912,906.59. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 7,250 shares of company stock worth $651,738 over the last quarter. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Starbucks during the fourth quarter valued at about $1,240,652,000. Flossbach Von Storch AG raised its holdings in shares of Starbucks by 8,677.8% during the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after purchasing an additional 2,684,470 shares during the period. Van ECK Associates Corp raised its holdings in shares of Starbucks by 2,624.3% during the first quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after purchasing an additional 2,071,378 shares during the period. Bank of Nova Scotia raised its holdings in shares of Starbucks by 342.7% during the fourth quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after purchasing an additional 1,672,656 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Starbucks by 432.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after purchasing an additional 1,656,591 shares during the period. 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.