Starbucks (NASDAQ:SBUX) Given New $92.00 Price Target at JPMorgan Chase & Co.

Starbucks (NASDAQ:SBUX) had its target price decreased by JPMorgan Chase & Co. from $100.00 to $92.00 in a research report sent to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the coffee company’s stock.

A number of other equities research analysts have also commented on SBUX. Stephens restated an equal weight rating and set a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Oppenheimer reiterated a market perform rating on shares of Starbucks in a research report on Friday, April 19th. TD Cowen lowered their price objective on shares of Starbucks from $100.00 to $85.00 and set a hold rating for the company in a research report on Wednesday. Royal Bank of Canada reiterated a sector perform rating and set a $102.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Finally, Wedbush lowered their price target on shares of Starbucks from $95.00 to $92.00 and set a neutral rating for the company in a report on Friday, April 26th. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $97.09.

Starbucks Price Performance

Shares of Starbucks stock opened at $73.11 on Wednesday. The company’s fifty day moving average price is $88.89 and its two-hundred day moving average price is $93.84. 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 52-week low of $72.67 and a 52-week high of $108.12.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS. Analysts predict that Starbucks will post 3.69 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Transactions at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the firm’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 of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold 7,250 shares of company stock valued at $651,738 in the last ninety days. 1.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Starbucks by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after buying an additional 1,041,622 shares during the last quarter. Northern Trust Corp grew its position in shares of Starbucks by 1.5% in the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after acquiring an additional 232,031 shares during the period. Norges Bank acquired a new position in shares of Starbucks during the 4th quarter worth about $1,240,652,000. Fisher Asset Management LLC raised its holdings in shares of Starbucks by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after purchasing an additional 268,030 shares during the period. Finally, Invesco Ltd. lifted its stake in Starbucks by 11.8% in the 3rd quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after purchasing an additional 1,115,051 shares during 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.