Starbucks (NASDAQ:SBUX) Price Target Cut to $84.00 by Analysts at Jefferies Financial Group

Starbucks (NASDAQ:SBUX) had its price target reduced by Jefferies Financial Group from $94.00 to $84.00 in a research note published on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the coffee company’s stock.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Starbucks from $107.00 to $100.00 and set an overweight rating on the stock in a report on Tuesday, March 19th. Wedbush dropped their price target on shares of Starbucks from $95.00 to $92.00 and set a neutral rating for the company in a research note on Friday, April 26th. Stifel Nicolaus reduced their price objective on shares of Starbucks from $90.00 to $80.00 and set a hold rating on the stock in a research note on Wednesday. Guggenheim dropped their target price on shares of Starbucks from $100.00 to $91.00 and set a buy rating for the company in a research report on Friday, April 19th. Finally, Stephens restated an equal weight rating and issued a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $100.39.

Starbucks Trading Down 15.9 %

Shares of Starbucks stock opened at $74.44 on Wednesday. Starbucks has a 1-year low of $72.67 and a 1-year high of $114.56. The firm’s 50-day moving average price is $89.76 and its two-hundred day moving average price is $94.11. The stock has a market capitalization of $84.28 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 50.10%. The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period in the prior year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities research analysts predict that Starbucks will post 3.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 3.06%. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 7,250 shares of company stock worth $651,738. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of hedge funds have recently bought and sold shares of SBUX. Hollencrest Capital Management boosted its stake in shares of Starbucks by 118.8% in the first quarter. Hollencrest Capital Management now owns 24,472 shares of the coffee company’s stock valued at $2,236,000 after buying an additional 13,289 shares during the period. Greenwood Capital Associates LLC bought a new stake in shares of Starbucks during the 1st quarter valued at $1,895,000. PDS Planning Inc grew its holdings in shares of Starbucks by 2.2% during the 1st quarter. PDS Planning Inc now owns 6,364 shares of the coffee company’s stock worth $582,000 after purchasing an additional 140 shares in the last quarter. REDW Wealth LLC increased its position in shares of Starbucks by 10.1% in the first quarter. REDW Wealth LLC now owns 3,215 shares of the coffee company’s stock worth $294,000 after purchasing an additional 296 shares during the period. Finally, Regent Peak Wealth Advisors LLC raised its stake in Starbucks by 2.3% in the first quarter. Regent Peak Wealth Advisors LLC now owns 27,974 shares of the coffee company’s stock valued at $2,557,000 after purchasing an additional 635 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

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.