BMO Capital Markets Trims Starbucks (NASDAQ:SBUX) Target Price to $100.00

Starbucks (NASDAQ:SBUX) had its price target reduced by BMO Capital Markets from $120.00 to $100.00 in a report published on Monday morning, Benzinga reports. They currently have an outperform rating on the coffee company’s stock.

Several other analysts have also issued reports on SBUX. TD Cowen dropped their price objective on Starbucks from $85.00 to $81.00 and set a hold rating on the stock in a research note on Wednesday, July 17th. Oppenheimer restated a market perform rating on shares of Starbucks in a research note on Friday, April 19th. BTIG Research dropped their price objective on Starbucks from $115.00 to $100.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. DZ Bank lowered Starbucks from a buy rating to a hold rating and set a $75.00 price objective on the stock. in a research note on Friday, May 3rd. Finally, Citigroup dropped their price objective on Starbucks from $95.00 to $85.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $91.71.

Starbucks Trading Down 2.1 %

Shares of NASDAQ:SBUX opened at $74.68 on Monday. The business’s 50 day moving average is $77.99 and its 200-day moving average is $85.47. The firm has a market capitalization of $84.59 billion, a PE ratio of 20.57, a PEG ratio of 1.73 and a beta of 0.94. Starbucks has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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 company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. On average, sell-side analysts predict that Starbucks will post 3.57 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, August 16th. 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 stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,250 shares of company stock valued at $579,375. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of large investors have recently made changes to their positions in SBUX. Norges Bank bought a new position in shares of Starbucks in the fourth quarter worth $1,240,652,000. Ontario Teachers Pension Plan Board bought a new position in shares of Starbucks in the first quarter worth $415,167,000. Flossbach Von Storch AG boosted its holdings in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares during the period. Capital World Investors purchased a new stake in shares of Starbucks in the first quarter worth $257,721,000. Finally, Van ECK Associates Corp raised its position in shares of Starbucks by 2,624.3% in the first quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock worth $196,516,000 after buying an additional 2,071,378 shares in the last quarter. 72.29% of the stock is 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.