Starbucks (NASDAQ:SBUX) Shares Up 0.6%

Starbucks Co. (NASDAQ:SBUX)’s stock price shot up 0.6% during mid-day trading on Friday . The company traded as high as $74.22 and last traded at $73.75. 2,521,616 shares changed hands during trading, a decline of 76% from the average session volume of 10,316,387 shares. The stock had previously closed at $73.30.

Analysts Set New Price Targets

A number of equities analysts have commented on SBUX shares. William Blair lowered Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company cut their price objective on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. Bank of America boosted their target price on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $93.75.

Starbucks Stock Performance

The firm has a 50 day moving average price of $77.84 and a two-hundred day moving average price of $86.74. The company has a market cap of $84.95 billion, a P/E ratio of 20.32, a P/E/G ratio of 1.58 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last issued 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). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the prior year, the business earned $0.74 EPS. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, sell-side analysts predict 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 paid a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 3.04%. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’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 completion of the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,750 shares of company stock worth $878,893. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vima LLC purchased a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks during the fourth quarter valued at $27,000. Fairman Group LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $30,000. Finally, Cypress Capital Management LLC WY boosted its stake in Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after purchasing an additional 185 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.