Starbucks (NASDAQ:SBUX) Trading 1.3% Higher

Starbucks Co. (NASDAQ:SBUX) shares rose 1.3% during trading on Tuesday . The stock traded as high as $96.90 and last traded at $96.84. Approximately 3,324,607 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 11,979,295 shares. The stock had previously closed at $95.63.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SBUX. Wedbush restated a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. The Goldman Sachs Group initiated coverage on Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price target on the stock. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Jefferies Financial Group lowered their target price on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Finally, HSBC cut their price target on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.21.

Starbucks Price Performance

The stock has a 50 day moving average price of $79.79 and a 200-day moving average price of $83.82. The stock has a market capitalization of $111.68 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 earnings per share. As a group, research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current 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 2.31%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Activity at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is currently owned by insiders.

Institutional Trading of Starbucks

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. Vima LLC acquired a new stake in Starbucks in the 4th quarter valued at approximately $26,000. DSM Capital Partners LLC purchased a new stake in Starbucks in the fourth quarter valued at approximately $27,000. Fairman Group LLC acquired a new position in Starbucks during the fourth quarter worth $30,000. Finally, Cypress Capital Management LLC WY boosted its position in shares of 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 buying 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.