Starbucks (NASDAQ:SBUX) Price Target Lowered to $84.00 at HSBC

Starbucks (NASDAQ:SBUX) had its price objective lowered by HSBC from $107.00 to $84.00 in a research note published on Friday morning, Benzinga reports. HSBC currently has a hold rating on the coffee company’s stock.

Other research analysts also recently issued reports about the company. Wedbush lowered their target price on Starbucks from $95.00 to $92.00 and set a neutral rating for the company in a research report on Friday, April 26th. William Blair downgraded Starbucks from an outperform rating to a market perform rating in a research report on Wednesday. Stifel Nicolaus lowered their target price on Starbucks from $90.00 to $80.00 and set a hold rating for the company in a research report on Wednesday. TD Cowen lowered their target price on Starbucks from $100.00 to $85.00 and set a hold rating for the company in a research report on Wednesday. Finally, Oppenheimer restated a market perform rating on shares of Starbucks in a research report on Friday, April 19th. Seventeen 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.com, the company presently has an average rating of Hold and a consensus price target of $97.09.

Starbucks Stock Performance

SBUX traded down $1.82 during trading on Friday, reaching $73.11. 22,153,770 shares of the company traded hands, compared to its average volume of 12,042,146. Starbucks has a 12-month low of $72.67 and a 12-month high of $108.12. The firm has a fifty day simple moving average of $88.89 and a 200 day simple moving average of $93.84. The company has a market cap of $82.81 billion, a P/E ratio of 20.14, a PEG ratio of 1.39 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same period last year, the business earned $0.74 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Starbucks will post 3.69 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

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

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 7,250 shares of company stock worth $651,738 over the last quarter. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Large investors have recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in Starbucks in the fourth quarter valued at approximately $26,000. Vima LLC purchased a new stake in Starbucks in the 4th quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new stake in Starbucks in the 4th quarter worth approximately $27,000. Fairman Group LLC purchased a new stake in Starbucks in the 4th quarter worth approximately $30,000. Finally, Riggs Asset Managment Co. Inc. boosted its position in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors 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.