Starbucks (NASDAQ:SBUX) 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 report released on Wednesday, MarketBeat Ratings reports. The firm currently has $89.00 price target on the coffee company’s stock, down from their previous price target of $108.00.

Several other research firms also recently weighed in on SBUX. Jefferies Financial Group dropped their target price on shares of Starbucks from $100.00 to $94.00 and set a hold rating for the company in a report on Tuesday, April 16th. Robert W. Baird dropped their price objective on Starbucks from $106.00 to $100.00 and set a neutral rating for the company in a research note on Monday, March 18th. TD Cowen reissued a hold rating and set a $100.00 target price on shares of Starbucks in a research note on Thursday, April 11th. Piper Sandler lowered their price objective on shares of Starbucks from $107.00 to $100.00 and set a neutral rating for the company in a research note on Friday, January 19th. Finally, 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. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $100.39.

Starbucks Stock Down 15.9 %

Shares of NASDAQ:SBUX opened at $74.44 on Wednesday. Starbucks has a 52-week low of $72.67 and a 52-week high of $114.56. The stock has a market cap of $84.28 billion, a P/E ratio of 20.51, a PEG ratio of 1.49 and a beta of 0.97. The business has a fifty day moving average of $89.76 and a two-hundred day moving average of $94.11.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 50.10% and a net margin of 11.38%. The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

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

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Starbucks

A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $1,240,652,000. Flossbach Von Storch AG boosted its position in shares of Starbucks by 8,677.8% during the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after purchasing an additional 2,684,470 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Starbucks by 2,624.3% during the 1st quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock worth $196,516,000 after purchasing an additional 2,071,378 shares during the period. Bank of Nova Scotia lifted its stake in shares of Starbucks by 342.7% in the fourth quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after purchasing an additional 1,672,656 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in Starbucks by 432.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock worth $195,825,000 after buying an additional 1,656,591 shares in the last quarter. Hedge funds and other institutional investors 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.