Starbucks (NASDAQ:SBUX) Stock Price Up 1.3%

Starbucks Co. (NASDAQ:SBUX)’s share price traded up 1.3% during mid-day trading on Tuesday . The stock traded as high as $73.76 and last traded at $73.73. 4,182,891 shares were traded during trading, a decline of 59% from the average session volume of 10,324,186 shares. The stock had previously closed at $72.75.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SBUX shares. Stifel Nicolaus lowered their price target on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Wedbush restated a “neutral” rating and issued a $81.00 target price on shares of Starbucks in a research note on Friday, June 28th. Jefferies Financial Group reduced their price target on Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Guggenheim decreased their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a report on Friday, April 19th. Finally, Evercore ISI cut shares of Starbucks from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $92.00 to $80.00 in a research note on Tuesday. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of “Hold” and an average price target of $92.92.

Starbucks Stock Performance

The company has a 50 day moving average of $77.96 and a 200 day moving average of $86.08. The stock has a market capitalization of $84.04 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 1.65 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS 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 analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.74 earnings per share. On average, equities analysts predict that Starbucks Co. will post 3.58 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,500 shares of company stock valued at $601,375. 1.98% of the stock is currently owned by insiders.

Institutional Trading of Starbucks

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vima LLC purchased a new position in shares of Starbucks during the fourth quarter worth $26,000. Scarborough Advisors LLC acquired a new position in Starbucks during the 4th quarter worth about $26,000. DSM Capital Partners LLC purchased a new position in Starbucks during the 4th quarter valued at about $27,000. Fairman Group LLC acquired a new position in Starbucks in the 4th quarter valued at about $30,000. Finally, Cypress Capital Management LLC WY increased its stake in Starbucks by 133.1% during the fourth 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 during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

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.