Starbucks (NASDAQ:SBUX) PT Lowered to $80.00 at Jefferies Financial Group

Starbucks (NASDAQ:SBUX) had its price objective reduced by Jefferies Financial Group from $84.00 to $80.00 in a report released on Wednesday morning. They currently have a hold rating on the coffee company’s stock.

A number of other analysts also recently commented on the company. Bank of America upped their price objective on Starbucks from $108.00 to $112.00 and gave the stock a buy rating in a report on Monday, June 10th. JPMorgan Chase & Co. dropped their price target on Starbucks from $92.00 to $90.00 and set an overweight rating for the company in a research note on Wednesday, July 10th. Wedbush lifted their price objective on Starbucks from $77.00 to $80.00 and gave the company a neutral rating in a research note on Wednesday. Stifel Nicolaus decreased their target price on Starbucks from $90.00 to $80.00 and set a hold rating for the company in a report on Wednesday, May 1st. Finally, Wells Fargo & Company cut their price target on shares of Starbucks from $105.00 to $90.00 and set an overweight rating on the stock in a report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Starbucks has an average rating of Hold and an average target price of $90.88.

Starbucks Trading Up 1.0 %

Shares of NASDAQ:SBUX opened at $75.88 on Wednesday. The firm has a market cap of $85.95 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.74 and a beta of 0.94. The stock’s 50-day moving average price is $77.62 and its two-hundred day moving average price is $84.61. Starbucks has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the company earned $1.00 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, research analysts forecast that Starbucks will post 3.55 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, August 30th. Investors of record on Friday, August 16th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 3.00%. Starbucks’s dividend payout ratio is presently 62.81%.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders sold a total of 7,250 shares of company stock valued at $579,375 in the last ninety days. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Starbucks during the fourth quarter valued at approximately $1,240,652,000. Ontario Teachers Pension Plan Board bought a new position in Starbucks during the 1st quarter worth $415,167,000. Flossbach Von Storch AG increased its position in Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares during the period. Capital World Investors bought a new stake in Starbucks in the 1st quarter valued at about $257,721,000. Finally, Van ECK Associates Corp raised its holdings in shares of Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after buying an additional 2,324,847 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

About Starbucks

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.