Starbucks (NASDAQ:SBUX) Price Target Cut to $84.00 by Analysts at HSBC

Starbucks (NASDAQ:SBUX) had its price target trimmed by HSBC from $107.00 to $84.00 in a report published on Friday, Benzinga reports. The firm currently has a hold rating on the coffee company’s stock.

A number of other research analysts also recently commented on the company. Citigroup dropped their price objective on Starbucks from $95.00 to $85.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Wells Fargo & Company reduced their price objective on shares of Starbucks from $105.00 to $90.00 and set an overweight rating for the company in a research report on Wednesday, May 1st. Robert W. Baird dropped their target price on shares of Starbucks from $106.00 to $100.00 and set a neutral rating on the stock in a research report on Monday, March 18th. Gordon Haskett cut shares of Starbucks from a buy rating to a hold rating and set a $100.00 price target for the company. in a research report on Tuesday, January 16th. Finally, Stephens restated an equal weight rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $97.09.

Starbucks Trading Down 2.4 %

SBUX stock opened at $73.11 on Friday. The company has a market capitalization of $82.81 billion, a PE ratio of 20.14, a P/E/G ratio of 1.58 and a beta of 0.97. The business’s fifty day moving average price is $88.89 and its 200 day moving average price is $93.84. Starbucks has a 12-month low of $72.67 and a 12-month high of $108.12.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. Starbucks’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. Research analysts predict that Starbucks will post 3.63 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders 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 is Thursday, May 16th. Starbucks’s payout ratio is 62.81%.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 7,250 shares of company stock valued at $651,738. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. boosted its holdings in Starbucks by 3.6% during the first quarter. Geneos Wealth Management Inc. now owns 20,757 shares of the coffee company’s stock worth $1,897,000 after buying an additional 729 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Starbucks during the 1st quarter worth approximately $4,164,000. Richardson Financial Services Inc. grew its holdings in shares of Starbucks by 17.5% in the 1st quarter. Richardson Financial Services Inc. now owns 2,715 shares of the coffee company’s stock worth $248,000 after acquiring an additional 405 shares during the period. Clarity Capital Partners LLC increased its stake in Starbucks by 20.1% in the 1st quarter. Clarity Capital Partners LLC now owns 11,996 shares of the coffee company’s stock valued at $1,096,000 after purchasing an additional 2,005 shares in the last quarter. Finally, Avidian Wealth Solutions LLC raised its holdings in Starbucks by 12.2% during the first quarter. Avidian Wealth Solutions LLC now owns 13,238 shares of the coffee company’s stock worth $1,210,000 after purchasing an additional 1,443 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

About Starbucks

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.