Stifel Nicolaus Trims Starbucks (NASDAQ:SBUX) Target Price to $80.00

Starbucks (NASDAQ:SBUX) had its price objective decreased by Stifel Nicolaus from $90.00 to $80.00 in a research report report published on Wednesday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the coffee company’s stock.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada restated a sector perform rating and issued a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. JPMorgan Chase & Co. lowered their target price on Starbucks from $107.00 to $100.00 and set an overweight rating on the stock in a research note on Tuesday, March 19th. Robert W. Baird reduced their price target on Starbucks from $106.00 to $100.00 and set a neutral rating for the company in a research report on Monday, March 18th. William Blair cut Starbucks from an outperform rating to a market perform rating in a research report on Wednesday. Finally, Piper Sandler reduced their price target on Starbucks from $107.00 to $100.00 and set a neutral rating for the company in a research report on Friday, January 19th. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $97.09.

Starbucks Stock Down 2.4 %

Shares of Starbucks stock opened at $73.11 on Wednesday. The stock has a market cap of $82.81 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.28 and a beta of 0.97. The business has a fifty day simple moving average of $89.34 and a 200-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 earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. Analysts expect that Starbucks will post 3.89 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 3.12%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 7,250 shares of company stock valued at $651,738 in the last quarter. Corporate insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Several large investors have recently modified their holdings of the stock. Willow Creek Wealth Management Inc. grew its stake in shares of Starbucks by 3.0% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after purchasing an additional 97 shares during the period. Valley Brook Capital Group Inc. grew its stake in shares of Starbucks by 2.4% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock valued at $383,000 after purchasing an additional 100 shares during the period. Charles Schwab Investment Advisory Inc. grew its stake in shares of Starbucks by 4.6% in the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after purchasing an additional 100 shares during the period. Herold Advisors Inc. grew its stake in shares of Starbucks by 4.3% in the 3rd quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock valued at $221,000 after purchasing an additional 100 shares during the period. Finally, Rodgers Brothers Inc. grew its stake in shares of Starbucks by 1.2% in the 3rd quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock valued at $755,000 after purchasing an additional 100 shares during the period. 72.29% of the stock is currently 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.