Guggenheim Trims Starbucks (NASDAQ:SBUX) Target Price to $91.00

Starbucks (NASDAQ:SBUX - Free Report) had its price target reduced by Guggenheim from $100.00 to $91.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the coffee company's stock.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets lowered their target price on shares of Starbucks from $125.00 to $120.00 and set an outperform rating for the company in a research note on Wednesday, January 31st. Piper Sandler lowered their target price 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. Stephens reissued an equal weight rating and set a $110.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. TD Cowen reaffirmed a hold rating and issued a $100.00 price target on shares of Starbucks in a research note on Thursday, April 11th. Finally, Morgan Stanley decreased their price target on shares of Starbucks from $120.00 to $115.00 and set an overweight rating for the company in a research note on Friday, April 12th. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $106.68.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.46 during mid-day trading on Friday, reaching $87.61. 11,898,220 shares of the company's stock were exchanged, compared to its average volume of 8,456,940. The firm has a market capitalization of $99.19 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 1.39 and a beta of 0.97. The business's fifty day moving average price is $91.14 and its 200-day moving average price is $94.42. Starbucks has a twelve month low of $84.29 and a twelve month high of $115.48.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the business earned $0.75 EPS. Starbucks's quarterly revenue was up 8.2% on a year-over-year basis. Analysts predict that Starbucks will post 4.03 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.60%. Starbucks's dividend payout ratio is presently 60.96%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 7,250 shares of company stock worth $653,183 in the last quarter. Insiders own 1.98% of the company's stock.

Institutional Investors Weigh In On Starbucks

A number of institutional investors have recently added to or reduced their stakes in the company. Core Wealth Partners LLC grew its position in Starbucks by 4.8% in the 1st quarter. Core Wealth Partners LLC now owns 3,996 shares of the coffee company's stock worth $365,000 after purchasing an additional 184 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Starbucks by 8.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 28,103 shares of the coffee company's stock valued at $2,568,000 after acquiring an additional 2,267 shares during the period. Kovack Advisors Inc. grew its position in shares of Starbucks by 1.8% during the 1st quarter. Kovack Advisors Inc. now owns 8,019 shares of the coffee company's stock valued at $733,000 after acquiring an additional 140 shares during the period. DB Fitzpatrick & Co Inc grew its position in shares of Starbucks by 21.0% during the 1st quarter. DB Fitzpatrick & Co Inc now owns 10,585 shares of the coffee company's stock valued at $967,000 after acquiring an additional 1,838 shares during the period. Finally, Madrona Financial Services LLC grew its position in shares of Starbucks by 12.2% during the 1st quarter. Madrona Financial Services LLC now owns 13,917 shares of the coffee company's stock valued at $1,272,000 after acquiring an additional 1,513 shares during the period. 72.29% of the stock is owned by institutional investors.

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.