Starbucks (NASDAQ:SBUX) Given "Hold" Rating at TD Cowen

TD Cowen reaffirmed their hold rating on shares of Starbucks (NASDAQ:SBUX - Free Report) in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a $90.00 price objective on the coffee company's stock.

SBUX has been the topic of a number of other research reports. Guggenheim dropped their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Jefferies Financial Group raised Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price objective on the stock in a research report on Wednesday, April 9th. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. The Goldman Sachs Group downgraded Starbucks from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $103.00 to $85.00 in a research report on Wednesday, April 30th. Finally, Cowen cut Starbucks from a "buy" rating to a "hold" rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $97.92.

Starbucks Trading Down 0.4%

Shares of SBUX traded down $0.37 during midday trading on Thursday, reaching $83.68. 7,391,512 shares of the stock were exchanged, compared to its average volume of 11,126,292. Starbucks has a 52 week low of $71.55 and a 52 week high of $117.46. The company's 50 day moving average is $85.54 and its two-hundred day moving average is $95.60. The company has a market capitalization of $95.09 billion, a P/E ratio of 26.99, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the previous year, the company posted $0.68 EPS. Starbucks's quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts expect that Starbucks will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's dividend payout ratio is currently 88.41%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Financial Life Planners purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $25,000. Graney & King LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. Collier Financial purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $27,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $27,000. 72.29% of the stock is currently 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.