Starbucks (NASDAQ:SBUX) Given New $103.00 Price Target at Stifel Nicolaus

Starbucks (NASDAQ:SBUX) had its price objective lowered by Stifel Nicolaus from $114.00 to $103.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the coffee company’s stock.

Several other equities research analysts have also recently commented on SBUX. BMO Capital Markets boosted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Wedbush upped their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.24.

Starbucks Stock Performance

Shares of SBUX stock opened at $83.71 on Tuesday. Starbucks has a 1 year low of $71.55 and a 1 year high of $117.46. The firm has a market capitalization of $95.09 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock has a fifty day moving average of $101.07 and a two-hundred day moving average of $98.60.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the company earned $0.90 earnings per share. Equities research analysts predict that Starbucks will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s dividend payout ratio is currently 78.71%.

Institutional Trading of Starbucks

Several hedge funds and other institutional investors have recently modified their holdings of SBUX. Norges Bank purchased a new stake in shares of Starbucks during the 4th quarter worth about $1,244,812,000. Capital World Investors increased its holdings in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after buying an additional 9,174,682 shares during the last quarter. FMR LLC raised its position in Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after acquiring an additional 5,348,790 shares in the last quarter. Capital Research Global Investors lifted its stake in Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after acquiring an additional 3,563,942 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Starbucks during the 4th quarter worth $284,283,000. 72.29% of the stock is currently owned by hedge funds and other 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.