Starbucks (NASDAQ:SBUX) Trading 1.1% Higher

Starbucks Co. (NASDAQ:SBUX)’s share price was up 1.1% on Wednesday . The stock traded as high as $76.83 and last traded at $76.18. Approximately 1,721,280 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 10,814,633 shares. The stock had previously closed at $75.37.

Analyst Upgrades and Downgrades

Several research analysts have commented on SBUX shares. Citigroup cut their target price on Starbucks from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Barclays reduced their target price on Starbucks from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. HSBC lowered their price target on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. 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, July 10th. Finally, 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 target price for the company. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and an average target price of $90.88.

Starbucks Stock Up 0.7 %

The company’s 50-day moving average is $77.47 and its two-hundred day moving average is $84.29. The company has a market cap of $86.04 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 1.76 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The company 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%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. On average, analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared 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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s 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 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 $5,234,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,250 shares of company stock worth $579,375. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vima LLC bought a new position in Starbucks in the 4th quarter worth $26,000. Scarborough Advisors LLC purchased a new position in Starbucks in the fourth quarter worth about $26,000. New Millennium Group LLC bought a new position in shares of Starbucks in the second quarter worth approximately $26,000. Stephens Consulting LLC grew its holdings in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the last quarter. Finally, DSM Capital Partners LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $27,000. Institutional investors own 72.29% of the company’s stock.

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.