Starbucks (NASDAQ:SBUX) PT Lowered to $84.00 at Jefferies Financial Group

Starbucks (NASDAQ:SBUX) had its target price lowered by Jefferies Financial Group from $94.00 to $84.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the coffee company’s stock.

Other analysts have also recently issued research reports about the stock. BTIG Research decreased their price target on shares of Starbucks from $115.00 to $100.00 and set a buy rating for the company in a research note on Wednesday. Piper Sandler reduced their target price on shares of Starbucks from $107.00 to $100.00 and set a neutral rating for the company in a research note on Friday, January 19th. Oppenheimer restated a market perform rating on shares of Starbucks in a research note on Friday, April 19th. Robert W. Baird reduced their target price on shares of Starbucks from $106.00 to $100.00 and set a neutral rating for the company in a research note on Monday, March 18th. Finally, Guggenheim reduced their target price on shares of Starbucks from $100.00 to $91.00 and set a buy rating for the company in a research note on Friday, April 19th. Seventeen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $97.09.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $73.11 on Wednesday. The stock has a market cap of $82.81 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.28 and a beta of 0.97. The firm has a fifty day moving average price of $89.34 and a 200 day moving average price of $93.98. Starbucks has a 1-year low of $72.67 and a 1-year high of $108.12.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates 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 49.91% and a net margin of 11.38%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. Sell-side analysts expect that Starbucks will post 3.89 EPS for the current fiscal year.

Starbucks Dividend Announcement

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 issued a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 3.12%. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 7,250 shares of company stock worth $651,738 over the last ninety days. 1.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Starbucks

A number of hedge funds and other institutional investors have recently modified their holdings of SBUX. Willow Creek Wealth Management Inc. boosted its position in shares of Starbucks by 3.0% in the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after acquiring an additional 97 shares during the last quarter. Valley Brook Capital Group Inc. boosted its position in shares of Starbucks by 2.4% in the third quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after acquiring an additional 100 shares during the last quarter. Charles Schwab Investment Advisory Inc. boosted its position in shares of Starbucks by 4.6% in the third quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock worth $206,000 after acquiring an additional 100 shares during the last quarter. Herold Advisors Inc. boosted its position in shares of Starbucks by 4.3% in the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after acquiring an additional 100 shares during the last quarter. Finally, Rodgers Brothers Inc. boosted its position in shares of Starbucks by 1.2% in the third quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after acquiring an additional 100 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

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.