Starbucks (NASDAQ:SBUX) Cut to Hold at Baird R W

Baird R W lowered shares of Starbucks (NASDAQ:SBUX) from a strong-buy rating to a hold rating in a research note issued to investors on Monday, Marketbeat reports.

SBUX has been the subject of a number of other research reports. Barclays boosted their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. BMO Capital Markets boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $105.12.

Starbucks Price Performance

NASDAQ SBUX opened at $88.68 on Monday. The company has a 50-day moving average of $103.14 and a 200-day moving average of $98.92. Starbucks has a 12 month low of $71.55 and a 12 month high of $117.46. The company has a market cap of $100.73 billion, a P/E ratio of 28.61, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the business earned $0.90 earnings per share. As a group, equities research analysts anticipate that Starbucks will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s dividend payout ratio is currently 78.71%.

Hedge Funds Weigh In On Starbucks

Several large investors have recently modified their holdings of the stock. TrinityPoint Wealth LLC raised its stake in Starbucks by 2.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after buying an additional 89 shares in the last quarter. Pioneer Trust Bank N A OR raised its position in shares of 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 valued at $1,032,000 after acquiring an additional 92 shares in the last quarter. Wintrust Investments LLC lifted its stake in Starbucks by 7.1% during the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after purchasing an additional 94 shares during the last quarter. Kuhn & Co Investment Counsel lifted its stake in Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after purchasing an additional 96 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC boosted its holdings in Starbucks by 10.6% in the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock worth $93,000 after purchasing an additional 97 shares during the period. Institutional investors 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.