Starbucks (NASDAQ:SBUX) Given New $84.00 Price Target at Jefferies Financial Group

Starbucks (NASDAQ:SBUX) had its target price trimmed by Jefferies Financial Group from $94.00 to $84.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the coffee company’s stock.

Several other equities research analysts also recently weighed in on SBUX. Stephens reissued an equal weight rating and issued a $110.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Piper Sandler reduced their price objective on shares of Starbucks from $107.00 to $100.00 and set a neutral rating on the stock in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft lowered Starbucks from a buy rating to a hold rating and dropped their target price for the company from $108.00 to $89.00 in a research report on Wednesday. Citigroup cut their target price on Starbucks from $102.00 to $95.00 and set a neutral rating on the stock in a research note on Friday, April 12th. Finally, Oppenheimer reissued a market perform rating on shares of Starbucks in a research note on Friday, April 19th. Sixteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $100.39.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $74.44 on Wednesday. Starbucks has a 1-year low of $72.67 and a 1-year high of $114.56. The business’s 50 day moving average is $89.76 and its two-hundred day moving average is $94.11. The stock has a market capitalization of $84.28 billion, a P/E ratio of 20.51, a PEG ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 50.10%. The business’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 firm posted $0.74 EPS. As a group, equities research analysts anticipate that Starbucks will post 3.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 7,250 shares of company stock worth $651,738 in the last three months. 1.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Starbucks

A number of large investors have recently made changes to their positions in SBUX. Vima LLC acquired a new position in Starbucks during the 4th quarter valued at about $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter valued at about $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks in the 4th quarter valued at approximately $27,000. Riggs Asset Managment Co. Inc. boosted its stake 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. Finally, Fairman Group LLC purchased a new stake in Starbucks during the 4th quarter worth approximately $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

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.