TD Securities Issues Pessimistic Forecast for Starbucks (NASDAQ:SBUX) Stock Price

Starbucks (NASDAQ:SBUX) had its target price decreased by TD Securities from $102.00 to $90.00 in a research report report published on Wednesday,Benzinga reports. TD Securities currently has a buy rating on the coffee company’s stock.

A number of other analysts have also recently commented on SBUX. BMO Capital Markets lifted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. UBS Group decreased their price objective on Starbucks from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Barclays dropped their price objective on shares of Starbucks from $124.00 to $106.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $98.15.

Starbucks Trading Down 5.7 %

Shares of NASDAQ:SBUX opened at $80.05 on Wednesday. Starbucks has a 52 week low of $71.55 and a 52 week high of $117.46. The company’s 50 day moving average is $94.45 and its two-hundred day moving average is $97.54. The company has a market cap of $90.93 billion, a PE ratio of 25.82, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. As a group, equities research analysts expect that Starbucks will post 2.99 EPS for the current 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 given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, May 16th. Starbucks’s dividend payout ratio is presently 78.71%.

Institutional Investors Weigh In On Starbucks

Several hedge funds have recently modified their holdings of SBUX. SteelPeak Wealth LLC lifted its stake in shares of Starbucks by 53.9% during the first quarter. SteelPeak Wealth LLC now owns 28,822 shares of the coffee company’s stock valued at $2,827,000 after buying an additional 10,094 shares during the period. Diversify Wealth Management LLC lifted its stake in shares of Starbucks by 192.0% during the 1st quarter. Diversify Wealth Management LLC now owns 11,908 shares of the coffee company’s stock worth $1,168,000 after purchasing an additional 7,830 shares during the period. Xponance Inc. boosted its holdings in shares of Starbucks by 1.6% during the first quarter. Xponance Inc. now owns 243,214 shares of the coffee company’s stock worth $23,857,000 after purchasing an additional 3,778 shares during the last quarter. Country Club Bank increased its stake in Starbucks by 0.9% in the first quarter. Country Club Bank now owns 22,381 shares of the coffee company’s stock valued at $2,187,000 after purchasing an additional 195 shares during the last quarter. Finally, Weil Company Inc. lifted its position in Starbucks by 5.8% during the first quarter. Weil Company Inc. now owns 37,656 shares of the coffee company’s stock worth $3,694,000 after buying an additional 2,080 shares during the period. 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.