Starbucks (NASDAQ:SBUX) Price Target Cut to $92.00 by Analysts at JPMorgan Chase & Co.

Starbucks (NASDAQ:SBUX - Free Report) had its price target 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.

SBUX has been the topic of several other research reports. Wedbush cut their price target on Starbucks from $95.00 to $92.00 and set a neutral rating on the stock in a report on Friday, April 26th. TD Cowen reduced their target price on shares of Starbucks from $100.00 to $85.00 and set a hold rating on the stock in a report on Wednesday. Citigroup lowered their price target on shares of Starbucks from $95.00 to $85.00 and set a neutral rating for the company in a report on Wednesday. Stifel Nicolaus reduced their price objective on shares of Starbucks from $90.00 to $80.00 and set a hold rating on the stock in a report on Wednesday. Finally, William Blair cut Starbucks from an outperform rating to a market perform rating in a research note on Wednesday. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $100.39.

Starbucks Stock Performance

Shares of SBUX traded down $14.05 during mid-day trading on Wednesday, hitting $74.44. 66,303,717 shares of the company's stock were exchanged, compared to its average volume of 9,144,704. The stock's 50-day moving average is $89.76 and its 200-day moving average is $94.11. Starbucks has a fifty-two week low of $72.67 and a fifty-two week high of $114.56. The company has a market cap of $84.28 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results 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 50.76% and a net margin of 11.70%. The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter last year, the company earned $0.74 earnings per share. Starbucks's quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Starbucks will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks's payout ratio is currently 60.96%.

Insider Activity

In related news, insider Michael Aaron Conway sold 3,250 shares of Starbucks 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 transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 7,250 shares of company stock valued at $651,738. Insiders own 1.98% of the company's stock.

Hedge Funds Weigh In On Starbucks

A number of large investors have recently modified their holdings of SBUX. Brookstone Capital Management boosted its stake in shares of Starbucks by 8.4% during the 3rd quarter. Brookstone Capital Management now owns 18,541 shares of the coffee company's stock worth $1,751,000 after acquiring an additional 1,443 shares in the last quarter. Vicus Capital acquired a new position in Starbucks during the third quarter worth $237,000. Raymond James Financial Services Advisors Inc. raised its stake in Starbucks by 1.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 647,987 shares of the coffee company's stock valued at $59,142,000 after purchasing an additional 8,374 shares during the last quarter. Simon Quick Advisors LLC boosted its stake in shares of Starbucks by 7.9% during the 3rd quarter. Simon Quick Advisors LLC now owns 3,675 shares of the coffee company's stock worth $335,000 after purchasing an additional 269 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its holdings in shares of Starbucks by 11.5% during the third quarter. Capital Advisors Inc. OK now owns 3,789 shares of the coffee company's stock worth $346,000 after buying an additional 391 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

About Starbucks

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.