Starbucks (NASDAQ:SBUX) Upgraded to Hold at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Starbucks (NASDAQ:SBUX) from an underperform rating to a hold rating in a research report sent to investors on Wednesday, Marketbeat reports. The brokerage currently has $76.00 price objective on the coffee company’s stock.

A number of other equities research analysts have also recently commented on SBUX. Barclays lifted their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Finally, BMO Capital Markets lifted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.12.

Starbucks Trading Down 6.6 %

SBUX stock traded down $5.89 during trading on Wednesday, hitting $82.79. 5,122,735 shares of the stock traded hands, compared to its average volume of 11,402,252. The stock has a market cap of $94.04 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks has a one year low of $71.55 and a one year high of $117.46. The company has a 50 day simple moving average of $103.14 and a 200 day simple moving average of $98.92.

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

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.95%. Starbucks’s payout ratio is 78.71%.

Institutional Investors Weigh In On Starbucks

Institutional investors have recently made changes to their positions in the stock. TrinityPoint Wealth LLC boosted its position in shares of Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 89 shares in the last quarter. Pioneer Trust Bank N A OR grew its stake in Starbucks by 0.8% in the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock valued at $1,032,000 after acquiring an additional 92 shares during the period. Wintrust Investments LLC increased its holdings in shares of Starbucks by 7.1% during the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after acquiring an additional 94 shares in the last quarter. Kuhn & Co Investment Counsel lifted its holdings 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 purchasing an additional 96 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC grew its position in Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock valued at $93,000 after purchasing an additional 97 shares during the period. 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.