Starbucks (NASDAQ:SBUX) Rating Lowered to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a research note published on Wednesday morning, MarketBeat.com reports. They currently have $89.00 target price on the coffee company’s stock, down from their previous target price of $108.00.

Several other equities research analysts also recently weighed in on SBUX. JPMorgan Chase & Co. cut their price target on Starbucks from $107.00 to $100.00 and set an overweight rating on the stock in a report on Tuesday, March 19th. Stifel Nicolaus reduced their target price on shares of Starbucks from $102.00 to $90.00 and set a hold rating on the stock in a report on Thursday, April 11th. BTIG Research decreased their price target on shares of Starbucks from $125.00 to $115.00 and set a buy rating for the company in a research note on Wednesday, January 31st. Robert W. Baird dropped their price objective on shares of Starbucks from $106.00 to $100.00 and set a neutral rating on the stock in a research report on Monday, March 18th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and set a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $97.09.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $73.11 on Wednesday. The firm has a market capitalization of $82.81 billion, a PE ratio of 20.14, a price-to-earnings-growth 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. The firm’s 50-day moving average is $88.89 and its two-hundred day moving average is $93.84.

Starbucks (NASDAQ:SBUX) last announced 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 business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. Starbucks’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. Analysts expect that Starbucks will post 3.69 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed 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 is presently 62.81%.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of 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 accessible through this hyperlink. Insiders sold 7,250 shares of company stock worth $651,738 over the last 90 days. Corporate insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Several hedge funds have recently made changes to their positions in SBUX. Vima LLC acquired a new stake in shares of Starbucks during the fourth quarter worth about $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the fourth quarter worth about $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks during the fourth quarter worth about $27,000. Riggs Asset Managment Co. Inc. boosted its stake in shares of Starbucks by 1,578.9% during the third 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 period. Finally, Fairman Group LLC acquired a new stake in Starbucks in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.