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

Starbucks (NASDAQ:SBUX) had its price target decreased by Guggenheim from $95.00 to $83.00 in a report published on Tuesday morning, MarketBeat.com reports. Guggenheim currently has a neutral rating on the coffee company’s stock.

A number of other brokerages have also issued reports on SBUX. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target for the company in a research note on Wednesday, April 9th. Citigroup decreased their target price on Starbucks from $100.00 to $88.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Barclays dropped their price target on shares of Starbucks from $124.00 to $106.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. BMO Capital Markets raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Baird R W downgraded shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $98.15.

Starbucks Stock Up 2.4 %

Shares of NASDAQ SBUX opened at $82.01 on Tuesday. The firm’s 50-day simple moving average is $93.82 and its 200 day simple moving average is $97.45. The stock has a market cap of $93.16 billion, a P/E ratio of 26.45, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued 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). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Starbucks will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.98%. Starbucks’s dividend payout ratio is presently 78.71%.

Institutional Investors Weigh In On Starbucks

A number of institutional investors have recently modified their holdings of SBUX. Financial Life Planners purchased a new stake in shares of Starbucks during the fourth quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks in the 4th quarter worth about $25,000. Graney & King LLC purchased a new stake in shares of Starbucks during the 4th quarter worth about $26,000. Collier Financial acquired a new stake in shares of Starbucks during the 4th quarter valued at about $27,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds 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.