DZ Bank Lowers Starbucks (NASDAQ:SBUX) to Sell

DZ Bank cut shares of Starbucks (NASDAQ:SBUX) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, Marketbeat reports. DZ Bank currently has $85.00 price objective on the coffee company’s stock.

A number of other research analysts also recently issued reports on the company. BTIG Research dropped their price target on Starbucks from $115.00 to $100.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Bank of America upped their price target on shares of Starbucks from $108.00 to $112.00 and gave the company a buy rating in a research report on Monday, June 10th. Barclays raised their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an overweight rating in a research report on Wednesday, August 14th. Wells Fargo & Company reduced their target price on shares of Starbucks from $105.00 to $90.00 and set an overweight rating for the company in a report on Wednesday, May 1st. Finally, HSBC dropped their price target on Starbucks from $107.00 to $84.00 and set a hold rating on the stock in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks has an average rating of Moderate Buy and an average price target of $99.21.

Starbucks Stock Up 1.7 %

Shares of SBUX opened at $94.02 on Wednesday. Starbucks has a 52-week low of $71.55 and a 52-week high of $107.66. The stock has a 50 day moving average price of $79.51 and a 200 day moving average price of $83.99. The company has a market capitalization of $106.50 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS. On average, equities analysts anticipate that Starbucks will post 3.55 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Transactions at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders sold a total of 9,790 shares of company stock valued at $865,514 in the last ninety days. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBUX. Vima LLC acquired a new position in Starbucks during the fourth quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter worth $26,000. New Millennium Group LLC purchased a new position in shares of Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC boosted its holdings in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the last quarter. Finally, DSM Capital Partners LLC purchased a new stake in Starbucks during the fourth quarter valued at about $27,000. 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.