Starbucks (NASDAQ:SBUX) Given “Hold” Rating at TD Securities

TD Securities reiterated their hold rating on shares of Starbucks (NASDAQ:SBUX) in a research note issued to investors on Thursday morning, MarketBeat reports. They currently have a $90.00 price objective on the coffee company’s stock.

A number of other analysts have also issued reports on SBUX. Guggenheim lowered their price target on Starbucks from $95.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Starbucks in a report on Friday, May 16th. JPMorgan Chase & Co. lowered their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Citigroup lowered their target price on Starbucks from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Finally, Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $97.92.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $83.68 on Thursday. Starbucks has a 1 year low of $71.55 and a 1 year high of $117.46. The business has a 50 day simple moving average of $85.54 and a two-hundred day simple moving average of $95.58. The firm has a market capitalization of $95.09 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced 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 firm had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. Equities research analysts expect that Starbucks will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks’s payout ratio is currently 88.41%.

Institutional Investors Weigh In On Starbucks

Hedge funds have recently modified their holdings of the company. Strategic Financial Concepts LLC purchased a new position in Starbucks in the 4th quarter valued at about $62,000. Arizona State Retirement System lifted its stake in Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after buying an additional 2,722 shares in the last quarter. West Michigan Advisors LLC purchased a new position in Starbucks in the 4th quarter valued at about $265,000. Wernau Asset Management Inc. purchased a new position in Starbucks in the 4th quarter valued at about $258,000. Finally, Vanguard Capital Wealth Advisors purchased a new position in Starbucks in the 4th quarter valued at about $285,000. 72.29% of the stock is 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.