Starbucks (NASDAQ:SBUX) PT Lowered to $85.00 at UBS Group

Starbucks (NASDAQ:SBUX) had its target price lowered by UBS Group from $95.00 to $85.00 in a report issued on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the coffee company’s stock.

A number of other analysts have also recently issued reports on the stock. Royal Bank of Canada restated a sector perform rating and set a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Stephens restated an equal weight rating and set a $110.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Gordon Haskett cut shares of Starbucks from a buy rating to a hold rating and set a $100.00 target price for the company. in a research note on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft lowered shares of Starbucks from a buy rating to a hold rating and lowered their price target for the stock from $108.00 to $89.00 in a research report on Wednesday. Finally, Jefferies Financial Group lowered their price target on shares of Starbucks from $94.00 to $84.00 and set a hold rating on the stock in a research report on Wednesday. Seventeen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $97.09.

Starbucks Price Performance

Shares of SBUX stock 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 company has a fifty day moving average price of $89.34 and a two-hundred day moving average price of $93.98. Starbucks has a one year low of $72.67 and a one year high of $108.12.

Starbucks (NASDAQ:SBUX) last posted its earnings results 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 company 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 business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 EPS. As a group, equities research analysts anticipate that Starbucks will post 3.89 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Activity at Starbucks

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

Institutional Investors Weigh In On Starbucks

Several hedge funds and other institutional investors have recently made changes to their positions in SBUX. Brookstone Capital Management grew its holdings in shares of Starbucks by 8.4% during the 3rd quarter. Brookstone Capital Management now owns 18,541 shares of the coffee company’s stock valued at $1,751,000 after purchasing an additional 1,443 shares during the last quarter. Vicus Capital acquired a new stake in Starbucks during the 3rd quarter worth approximately $237,000. Raymond James Financial Services Advisors Inc. boosted its position in Starbucks by 1.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 647,987 shares of the coffee company’s stock worth $59,142,000 after buying an additional 8,374 shares during the period. Simon Quick Advisors LLC boosted its position in Starbucks by 7.9% during the 3rd quarter. Simon Quick Advisors LLC now owns 3,675 shares of the coffee company’s stock worth $335,000 after buying an additional 269 shares during the period. Finally, Capital Advisors Inc. OK boosted its position in Starbucks by 11.5% during the 3rd quarter. Capital Advisors Inc. OK now owns 3,789 shares of the coffee company’s stock worth $346,000 after buying an additional 391 shares during the period. 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.