Starbucks (NASDAQ:SBUX) Price Target Cut to $90.00 by Analysts at Wells Fargo & Company

Starbucks (NASDAQ:SBUX) had its price target cut by Wells Fargo & Company from $105.00 to $90.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the coffee company’s stock.

Several other brokerages have also commented on SBUX. Citigroup decreased their price target on Starbucks from $102.00 to $95.00 and set a neutral rating on the stock in a research note on Friday, April 12th. Oppenheimer reissued a market perform rating on shares of Starbucks in a research note on Friday, April 19th. Stephens reissued an equal weight rating and set a $110.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Gordon Haskett lowered Starbucks from a buy rating to a hold rating and set a $100.00 price target on the stock. in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Sixteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $100.39.

Starbucks Trading Down 15.9 %

NASDAQ SBUX opened at $74.44 on Wednesday. The business’s 50 day moving average is $89.76 and its two-hundred day moving average is $94.11. Starbucks has a 12-month low of $72.67 and a 12-month high of $114.56. The stock has a market capitalization of $84.28 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results 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 business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 50.10% and a net margin of 11.38%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. Equities analysts forecast that Starbucks will post 3.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.06%. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was 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 owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 7,250 shares of company stock worth $651,738 in the last ninety days. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Several large investors have recently made changes to their positions in SBUX. Hollencrest Capital Management boosted its position in Starbucks by 118.8% during the 1st quarter. Hollencrest Capital Management now owns 24,472 shares of the coffee company’s stock worth $2,236,000 after purchasing an additional 13,289 shares during the period. Greenwood Capital Associates LLC acquired a new position in shares of Starbucks during the first quarter worth about $1,895,000. PDS Planning Inc boosted its position in shares of Starbucks by 2.2% in the first quarter. PDS Planning Inc now owns 6,364 shares of the coffee company’s stock worth $582,000 after buying an additional 140 shares during the period. REDW Wealth LLC grew its stake in shares of Starbucks by 10.1% in the first quarter. REDW Wealth LLC now owns 3,215 shares of the coffee company’s stock valued at $294,000 after buying an additional 296 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC raised its holdings in shares of Starbucks by 2.3% during the 1st quarter. Regent Peak Wealth Advisors LLC now owns 27,974 shares of the coffee company’s stock valued at $2,557,000 after buying an additional 635 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.