TD Securities Cuts Starbucks (NASDAQ:SBUX) Price Target to $90.00

Starbucks (NASDAQ:SBUX) had its price target decreased by TD Securities from $102.00 to $90.00 in a research report released on Wednesday,Benzinga reports. TD Securities currently has a buy rating on the coffee company’s stock.

Several other analysts have also recently weighed in on SBUX. Guggenheim reduced their price objective on shares of Starbucks from $95.00 to $83.00 and set a “neutral” rating on the stock in a research note on Tuesday. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Tuesday, March 18th. UBS Group lowered their price objective on Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Finally, Stifel Nicolaus lowered their price target on shares of Starbucks from $114.00 to $103.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $98.15.

Starbucks Trading Up 3.3 %

Starbucks stock opened at $84.69 on Wednesday. The stock has a 50-day moving average price of $93.22 and a two-hundred day moving average price of $97.38. Starbucks has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a market capitalization of $96.20 billion, a PE ratio of 27.32, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter last year, the business earned $0.68 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts predict that Starbucks will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.88%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SBUX. TrinityPoint Wealth LLC boosted its stake in Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR lifted its holdings in shares of Starbucks by 0.8% in the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock valued at $1,032,000 after purchasing an additional 92 shares in the last quarter. Wintrust Investments LLC lifted its holdings in shares of Starbucks by 7.1% in the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after purchasing an additional 94 shares in the last quarter. Kuhn & Co Investment Counsel boosted its position in shares of Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after buying an additional 96 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in Starbucks by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock worth $261,000 after buying an additional 97 shares in the last quarter. 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.