Starbucks (NASDAQ:SBUX) Shares Up 0.6%

Starbucks Co. (NASDAQ:SBUX)’s stock price was up 0.6% during mid-day trading on Thursday . The company traded as high as $73.15 and last traded at $72.91. Approximately 2,997,914 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 10,307,882 shares. The stock had previously closed at $72.51.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore ISI dropped their price objective on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Stifel Nicolaus cut their price target on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. Piper Sandler dropped their price objective on Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, May 6th. DZ Bank cut Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a report on Friday, May 3rd. Finally, Morgan Stanley dropped their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $94.46.

Starbucks Stock Performance

The company has a market capitalization of $83.03 billion, a PE ratio of 20.23, a P/E/G ratio of 1.63 and a beta of 0.94. The firm has a fifty day simple moving average of $77.87 and a 200-day simple moving average of $86.83.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 3.58 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.11%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock valued at $878,893 in the last quarter. Insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBUX. Orca Investment Management LLC grew its position in shares of Starbucks by 6.6% during the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after acquiring an additional 466 shares during the last quarter. Cerity Partners LLC grew its position in Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after purchasing an additional 1,281,471 shares during the last quarter. Cox Capital Mgt LLC increased its stake in shares of Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after purchasing an additional 13,372 shares during the period. Summa Corp. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $384,000. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $2,781,000. Institutional investors and hedge funds 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.