Starbucks (NASDAQ:SBUX) Rating Increased to Hold at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Starbucks (NASDAQ:SBUX) from an underperform rating to a hold rating in a research note released on Wednesday morning, MarketBeat.com reports. The firm currently has $76.00 price objective on the coffee company’s stock.

A number of other research analysts have also weighed in on the company. Robert W. Baird reissued a “neutral” rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a research note on Monday. UBS Group raised their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Barclays increased their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. BMO Capital Markets lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Baird R W lowered shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.12.

Starbucks Price Performance

NASDAQ:SBUX traded down $5.89 during trading hours on Wednesday, reaching $82.79. 5,122,735 shares of the company traded hands, compared to its average volume of 11,402,252. Starbucks has a 1-year low of $71.55 and a 1-year high of $117.46. The stock has a market cap of $94.04 billion, a P/E ratio of 26.66, a P/E/G ratio of 3.59 and a beta of 1.00. The firm’s 50-day moving average is $103.14 and its 200-day moving average is $98.92.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, research analysts predict that Starbucks will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.95%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Hedge Funds Weigh In On Starbucks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its position in shares of Starbucks by 16.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,310 shares of the coffee company’s stock worth $521,000 after acquiring an additional 765 shares during the period. Whipplewood Advisors LLC lifted its holdings in shares of Starbucks by 526.6% during the 1st quarter. Whipplewood Advisors LLC now owns 1,153 shares of the coffee company’s stock worth $113,000 after acquiring an additional 969 shares during the period. RFG Advisory LLC boosted its position in shares of Starbucks by 17.2% during the 1st quarter. RFG Advisory LLC now owns 12,331 shares of the coffee company’s stock valued at $1,210,000 after acquiring an additional 1,807 shares in the last quarter. InvesTrust increased its stake in Starbucks by 0.6% in the first quarter. InvesTrust now owns 65,275 shares of the coffee company’s stock valued at $6,403,000 after acquiring an additional 389 shares during the period. Finally, ST Germain D J Co. Inc. raised its position in Starbucks by 2.4% in the first quarter. ST Germain D J Co. Inc. now owns 7,192 shares of the coffee company’s stock worth $705,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds 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.