Starbucks (NASDAQ:SBUX) Price Target Cut to $94.00 by Analysts at Jefferies Financial Group

Starbucks (NASDAQ:SBUX) had its price objective reduced by Jefferies Financial Group from $100.00 to $94.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a hold rating on the coffee company’s stock.

Several other equities analysts also recently weighed in on SBUX. HSBC initiated coverage on Starbucks in a research report on Wednesday, December 20th. They set a hold rating and a $107.00 target price on the stock. Piper Sandler cut their target price on Starbucks from $107.00 to $100.00 and set a neutral rating on the stock in a research report on Friday, January 19th. Wells Fargo & Company reissued an overweight rating and set a $105.00 target price on shares of Starbucks in a research report on Monday, April 1st. Morgan Stanley cut their target price on Starbucks from $120.00 to $115.00 and set an overweight rating on the stock in a research report on Friday, April 12th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $102.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Thirteen 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, the company presently has a consensus rating of Hold and an average target price of $107.43.

Starbucks Price Performance

NASDAQ:SBUX opened at $85.42 on Tuesday. Starbucks has a 1 year low of $84.29 and a 1 year high of $115.48. The stock’s 50 day simple moving average is $91.51 and its two-hundred day simple moving average is $94.53. The company has a market cap of $96.71 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.36 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the firm earned $0.75 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that Starbucks will post 4.05 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 4,000 shares of company stock valued at $375,665. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SBUX. Vima LLC acquired a new position in Starbucks during the 4th quarter valued at about $26,000. Scarborough Advisors LLC acquired a new position in Starbucks during the 4th quarter valued at about $26,000. Freedom Wealth Alliance LLC acquired a new position in Starbucks during the 4th quarter valued at about $26,000. DSM Capital Partners LLC acquired a new position in Starbucks during the 4th quarter valued at about $27,000. Finally, Riggs Asset Managment Co. Inc. increased its position in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after buying an additional 300 shares in the last quarter. 72.29% of the stock is 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.