TD Securities Lowers Starbucks (NASDAQ:SBUX) Price Target to $90.00

Starbucks (NASDAQ:SBUX - Free Report) had its price objective trimmed by TD Securities from $102.00 to $90.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the coffee company's stock.

Several other brokerages have also commented on SBUX. Wells Fargo & Company decreased their target price on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. BMO Capital Markets increased their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Stifel Nicolaus decreased their price target on Starbucks from $114.00 to $103.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, Robert W. Baird restated a "neutral" rating and issued a $85.00 price target (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $98.15.

Starbucks Stock Performance

SBUX traded up $2.68 during trading on Wednesday, hitting $84.69. The stock had a trading volume of 13,504,780 shares, compared to its average volume of 11,404,175. The firm has a market capitalization of $96.20 billion, a P/E ratio of 27.32, a PEG ratio of 3.59 and a beta of 1.00. Starbucks has a twelve month low of $71.55 and a twelve month high of $117.46. The company's 50-day moving average price is $93.22 and its 200 day moving average price is $97.38.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued 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). The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company's revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 earnings per share. As a group, equities analysts expect that Starbucks will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.88%. Starbucks's dividend payout ratio (DPR) is currently 78.71%.

Hedge Funds Weigh In On Starbucks

Institutional investors and hedge funds have recently bought and sold shares of the stock. TrinityPoint Wealth LLC lifted its position in shares of Starbucks by 2.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after purchasing an additional 89 shares in the last quarter. Pioneer Trust Bank N A OR increased its stake in Starbucks by 0.8% during the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock worth $1,032,000 after buying an additional 92 shares during the period. Wintrust Investments LLC lifted its holdings in Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock worth $128,000 after buying an additional 94 shares in the last quarter. Kuhn & Co Investment Counsel boosted its position in Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock valued at $387,000 after buying an additional 96 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC grew its stake in shares of Starbucks by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock valued at $93,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

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.