Starbucks (NASDAQ:SBUX) Downgraded by DZ Bank

DZ Bank downgraded shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a report released on Friday morning, Marketbeat.com reports. They currently have $75.00 price objective on the coffee company’s stock.

SBUX has been the subject of a number of other reports. Jefferies Financial Group lowered their price objective on shares of Starbucks from $94.00 to $84.00 and set a hold rating for the company in a research report on Wednesday. Wedbush reduced their price target on Starbucks from $95.00 to $92.00 and set a neutral rating on the stock in a report on Friday, April 26th. UBS Group reduced their target price on shares of Starbucks from $95.00 to $85.00 and set a neutral rating on the stock in a report on Wednesday. Barclays dropped their price target on shares of Starbucks from $116.00 to $112.00 and set an overweight rating for the company in a research note on Wednesday, January 31st. Finally, TD Cowen reduced their price objective on shares of Starbucks from $100.00 to $85.00 and set a hold rating on the stock in a research note on Wednesday. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Starbucks has an average rating of Hold and an average target price of $97.09.

Starbucks Price Performance

Starbucks stock traded down $1.82 during midday trading on Friday, hitting $73.11. The company’s stock had a trading volume of 22,153,770 shares, compared to its average volume of 12,042,146. The company has a 50-day moving average price of $88.89 and a two-hundred day moving average price of $93.84. The company has a market cap of $82.81 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.39 and a beta of 0.97. Starbucks has a 1-year low of $72.67 and a 1-year high of $108.12.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 11.38% and a negative return on equity of 49.91%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. Sell-side analysts forecast that Starbucks will post 3.69 EPS for the current year.

Starbucks Dividend Announcement

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

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, 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 accessible through the SEC website. In the last 90 days, insiders sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Starbucks

Hedge funds have recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $26,000. Vima LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $27,000. Fairman Group LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $30,000. Finally, Riggs Asset Managment Co. Inc. boosted its holdings in shares of 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 buying an additional 300 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other 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.