Starbucks (NASDAQ:SBUX) Price Target Lowered to $115.00 at BTIG Research

Starbucks (NASDAQ:SBUXFree Report) had its price objective cut by BTIG Research from $125.00 to $115.00 in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. They currently have a buy rating on the coffee company’s stock.

A number of other brokerages have also issued reports on SBUX. Stephens restated an equal weight rating and issued a $110.00 price target on shares of Starbucks in a research note on Wednesday. HSBC began coverage on shares of Starbucks in a research note on Wednesday, December 20th. They issued a hold rating and a $107.00 price target for the company. Barclays lowered their target price on shares of Starbucks from $116.00 to $112.00 and set an overweight rating for the company in a research note on Wednesday. StockNews.com lowered shares of Starbucks from a buy rating to a hold rating in a research note on Wednesday, December 20th. Finally, UBS Group lowered their target price on shares of Starbucks from $110.00 to $100.00 and set a neutral rating for the company in a research note on Thursday, October 12th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Starbucks has an average rating of Moderate Buy and an average price target of $111.64.

View Our Latest Stock Report on Starbucks

Starbucks Trading Down 0.4 %

NASDAQ SBUX opened at $92.99 on Wednesday. The company’s fifty day simple moving average is $95.21 and its 200-day simple moving average is $96.85. Starbucks has a 52 week low of $89.21 and a 52 week high of $115.48. The stock has a market cap of $105.28 billion, a P/E ratio of 24.86, a PEG ratio of 1.43 and a beta of 0.99.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, research analysts expect that Starbucks will post 4.1 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.45%. The ex-dividend date is Thursday, February 8th. Starbucks’s payout ratio is currently 60.96%.

Insider Buying and Selling

In other Starbucks news, insider Michael Aaron Conway sold 6,500 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $104.77, for a total value of $681,005.00. Following the completion of the sale, the insider now directly owns 72,822 shares of the company’s stock, valued at approximately $7,629,560.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Rachel Ruggeri sold 504 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $105.66, for a total value of $53,252.64. Following the transaction, the chief financial officer now owns 75,027 shares in the company, valued at approximately $7,927,352.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Aaron Conway sold 6,500 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $104.77, for a total value of $681,005.00. Following the completion of the transaction, the insider now owns 72,822 shares in the company, valued at approximately $7,629,560.94. The disclosure for this sale can be found here. Insiders sold 7,754 shares of company stock valued at $807,565 over the last 90 days. 1.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Starbucks

Large investors have recently made changes to their positions in the business. Valmark Advisers Inc. increased its holdings in Starbucks by 1.1% in the fourth quarter. Valmark Advisers Inc. now owns 10,857 shares of the coffee company’s stock worth $1,042,000 after buying an additional 123 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in Starbucks by 21.0% in the fourth quarter. Citizens Financial Group Inc. RI now owns 13,681 shares of the coffee company’s stock worth $1,314,000 after buying an additional 2,372 shares during the last quarter. Golden State Equity Partners increased its holdings in Starbucks by 19.2% in the fourth quarter. Golden State Equity Partners now owns 4,473 shares of the coffee company’s stock worth $429,000 after buying an additional 720 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID acquired a new position in Starbucks in the fourth quarter worth approximately $201,000. Finally, Kovack Advisors Inc. increased its holdings in Starbucks by 3.6% in the fourth quarter. Kovack Advisors Inc. now owns 7,879 shares of the coffee company’s stock worth $756,000 after buying an additional 277 shares during the last quarter. Institutional investors and hedge funds own 70.13% of the company’s stock.

Starbucks Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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