Stifel Nicolaus Cuts Starbucks (NASDAQ:SBUX) Price Target to $103.00

Starbucks (NASDAQ:SBUX) had its price target lowered by Stifel Nicolaus from $114.00 to $103.00 in a research report released on Tuesday, MarketBeat reports. The firm currently has a buy rating on the coffee company’s stock.

Other analysts also recently issued reports about the stock. UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Citigroup reduced their price objective on Starbucks from $100.00 to $88.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Robert W. Baird restated a “neutral” rating and issued a $85.00 price target (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Finally, Barclays boosted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.24.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $81.50 on Tuesday. Starbucks has a 52-week low of $71.55 and a 52-week high of $117.46. The stock has a market capitalization of $92.58 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.59 and a beta of 1.00. The stock’s 50-day simple moving average is $99.84 and its two-hundred day simple moving average is $98.37.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 company posted $0.90 EPS. As a group, equities analysts forecast that Starbucks will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company 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 $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s dividend payout ratio is presently 78.71%.

Hedge Funds Weigh In On Starbucks

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock valued at $10,138,442,000 after acquiring an additional 784,432 shares during the last quarter. Capital World Investors increased its holdings in Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after purchasing an additional 9,174,682 shares during the last quarter. FMR LLC lifted its stake in Starbucks by 27.0% during the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Starbucks by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock worth $2,259,516,000 after buying an additional 548,245 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Starbucks by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock valued at $1,448,030,000 after buying an additional 718,880 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.