Starbucks (NASDAQ:SBUX) Given New $85.00 Price Target at UBS Group

Starbucks (NASDAQ:SBUX) had its price objective decreased by UBS Group from $95.00 to $85.00 in a research note published on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the coffee company’s stock.

Other equities analysts also recently issued reports about the company. Barclays reduced their price target on Starbucks from $116.00 to $112.00 and set an overweight rating for the company in a report on Wednesday, January 31st. Morgan Stanley reduced their price target on Starbucks from $120.00 to $115.00 and set an overweight rating for the company in a report on Friday, April 12th. William Blair downgraded Starbucks from an outperform rating to a market perform rating in a report on Wednesday. Stifel Nicolaus reduced their price objective on Starbucks from $90.00 to $80.00 and set a hold rating for the company in a report on Wednesday. Finally, Royal Bank of Canada reiterated a sector perform rating and issued a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Seventeen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has an average rating of Hold and an average price target of $97.09.

Starbucks Trading Down 2.4 %

Shares of Starbucks stock opened at $73.11 on Wednesday. The firm has a market capitalization of $82.81 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.28 and a beta of 0.97. The business has a fifty day simple moving average of $89.34 and a two-hundred day simple moving average of $93.98. Starbucks has a 12 month low of $72.67 and a 12 month high of $108.12.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. Starbucks’s revenue was down 1.8% compared to the same quarter last year. Analysts predict that Starbucks will post 3.89 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.12%. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new position in shares of Starbucks during the 1st quarter valued at approximately $4,164,000. Richardson Financial Services Inc. raised its holdings in Starbucks by 17.5% during the 1st quarter. Richardson Financial Services Inc. now owns 2,715 shares of the coffee company’s stock valued at $248,000 after buying an additional 405 shares during the period. Clarity Capital Partners LLC raised its holdings in Starbucks by 20.1% during the 1st quarter. Clarity Capital Partners LLC now owns 11,996 shares of the coffee company’s stock valued at $1,096,000 after buying an additional 2,005 shares during the period. Avidian Wealth Solutions LLC raised its holdings in Starbucks by 12.2% during the 1st quarter. Avidian Wealth Solutions LLC now owns 13,238 shares of the coffee company’s stock valued at $1,210,000 after buying an additional 1,443 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in Starbucks during the 1st quarter valued at $3,254,000. 72.29% of the stock is currently owned by 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.