Starbucks (NASDAQ:SBUX) Stock Price Down 1.6% – What’s Next?

Shares of Starbucks Co. (NASDAQ:SBUX) were down 1.6% on Friday . The stock traded as low as $84.28 and last traded at $85.24. Approximately 4,488,372 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 11,188,472 shares. The stock had previously closed at $86.65.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SBUX shares. Barclays lowered their price objective on Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Guggenheim lowered their price objective on Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Citigroup lowered their price objective on Starbucks from $88.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their price objective on Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.72.

Starbucks Stock Performance

The firm has a market cap of $97.24 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 3.59 and a beta of 0.99. The business has a 50 day simple moving average of $88.15 and a 200-day simple moving average of $96.50.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results 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). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. Starbucks’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. As a group, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business 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 2.85%. Starbucks’s dividend payout ratio (DPR) is currently 88.41%.

Hedge Funds Weigh In On Starbucks

A number of hedge funds and other institutional investors have recently modified their holdings of the business. TrinityPoint Wealth LLC boosted its stake in shares of Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock worth $312,000 after buying an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR boosted its stake in shares of Starbucks by 0.8% in the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock worth $1,032,000 after buying an additional 92 shares during the last quarter. Wintrust Investments LLC boosted its stake in shares of Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after buying an additional 94 shares during the last quarter. Kuhn & Co Investment Counsel boosted its stake in shares of Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after buying an additional 96 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC boosted its stake in shares of Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock worth $93,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors 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.