Starbucks (NASDAQ:SBUX) Trading Up 0.1%

Starbucks Co. (NASDAQ:SBUX)’s stock price was up 0.1% on Wednesday . The company traded as high as $76.13 and last traded at $75.62. Approximately 2,806,239 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 10,342,637 shares. The stock had previously closed at $75.51.

Analysts Set New Price Targets

Several brokerages recently issued reports on SBUX. Wells Fargo & Company reduced their price target on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group started coverage on shares of Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price target on the stock. HSBC dropped their price objective on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Wedbush decreased their price objective on Starbucks from $81.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, BTIG Research dropped their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.75.

Starbucks Price Performance

The company has a market capitalization of $89.53 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 1.65 and a beta of 0.94. The company’s 50-day moving average price is $77.93 and its two-hundred day moving average price is $86.00.

Starbucks (NASDAQ:SBUX) last posted 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 firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. On average, analysts anticipate that Starbucks Co. will post 3.57 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

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 given a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.88%. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Starbucks

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Orca Investment Management LLC raised its position in Starbucks by 6.6% in the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock valued at $719,000 after purchasing an additional 466 shares during the last quarter. Cerity Partners LLC raised its holdings in Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after buying an additional 1,281,471 shares during the last quarter. Cox Capital Mgt LLC boosted its position in Starbucks by 41.9% during the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after buying an additional 13,372 shares during the period. Summa Corp. bought a new stake in Starbucks during the 4th quarter worth approximately $384,000. Finally, Brevan Howard Capital Management LP bought a new stake in Starbucks during the 4th quarter worth approximately $2,781,000. 72.29% of the stock is owned by 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.