Starbucks (NASDAQ:SBUX) Trading 0% Higher

Starbucks Co. (NASDAQ:SBUX) was up 0% during mid-day trading on Monday . The company traded as high as $88.61 and last traded at $88.27. Approximately 2,153,955 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 8,296,929 shares. The stock had previously closed at $88.25.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of analyst reports. Wedbush reduced their price objective on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. BMO Capital Markets lowered their price objective on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Piper Sandler cut their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and lowered their target price for the stock from $108.00 to $89.00 in a report on Wednesday. Finally, TD Cowen cut their price target on Starbucks from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday. Sixteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and a consensus price target of $103.86.

Starbucks Stock Performance

The company’s 50 day moving average price is $90.17 and its 200-day moving average price is $94.25. The stock has a market cap of $100.19 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. On average, analysts forecast that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.58%. Starbucks’s payout ratio is currently 60.96%.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 7,250 shares of company stock valued at $651,738. Company insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several institutional investors have recently added to or reduced their stakes in SBUX. Vanguard Group Inc. raised its holdings in Starbucks by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after purchasing an additional 1,041,622 shares in the last quarter. Northern Trust Corp boosted its position in Starbucks by 1.5% in the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after purchasing an additional 232,031 shares during the last quarter. Norges Bank bought a new stake in Starbucks during the fourth quarter valued at approximately $1,240,652,000. Fisher Asset Management LLC increased its stake in shares of Starbucks by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after purchasing an additional 268,030 shares in the last quarter. Finally, Invesco Ltd. increased its position in Starbucks by 11.8% in the third quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock worth $962,144,000 after buying an additional 1,115,051 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other 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.