Guggenheim Trims Starbucks (NASDAQ:SBUX) Target Price to $91.00

Starbucks (NASDAQ:SBUX) had its price target lowered by Guggenheim from $100.00 to $91.00 in a research note issued to investors on Friday, Benzinga reports. Guggenheim currently has a buy rating on the coffee company’s stock.

Other research analysts also recently issued research reports about the company. BMO Capital Markets reduced their target price on Starbucks from $125.00 to $120.00 and set an outperform rating on the stock in a report on Wednesday, January 31st. Morgan Stanley cut their price target on Starbucks from $120.00 to $115.00 and set an overweight rating on the stock in a report on Friday, April 12th. Wedbush reissued a neutral rating and issued a $95.00 price target on shares of Starbucks in a report on Wednesday, January 31st. BTIG Research cut their price target on Starbucks from $125.00 to $115.00 and set a buy rating on the stock in a report on Wednesday, January 31st. Finally, Jefferies Financial Group cut their price target on Starbucks from $100.00 to $94.00 and set a hold rating on the stock in a report on Tuesday, April 16th. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $106.68.

Starbucks Stock Up 0.7 %

NASDAQ:SBUX opened at $88.18 on Friday. The business’s 50 day moving average is $90.80 and its two-hundred day moving average is $94.42. Starbucks has a 52 week low of $84.29 and a 52 week high of $115.48. The company has a market cap of $99.84 billion, a PE ratio of 23.58, a P/E/G ratio of 1.42 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the business earned $0.75 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks will post 4.01 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company 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 dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 7,000 shares of company stock worth $629,738. 1.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Starbucks

Hedge funds have recently modified their holdings of the stock. Cerity Partners LLC grew its holdings in shares of Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after acquiring an additional 1,281,471 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after acquiring an additional 7,619 shares during the last quarter. Tyche Wealth Partners LLC acquired a new position in shares of Starbucks in the 4th quarter worth $794,000. Insigneo Advisory Services LLC grew its holdings in shares of Starbucks by 60.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after acquiring an additional 3,570 shares during the last quarter. Finally, Motco grew its holdings in shares of Starbucks by 1.1% in the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after acquiring an additional 811 shares during the last quarter. 72.29% of the stock is currently 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.