Starbucks (NASDAQ:SBUX) Trading Up 21%

Starbucks Co. (NASDAQ:SBUX) was up 21% during trading on Tuesday . The stock traded as high as $95.29 and last traded at $93.19. Approximately 86,947,305 shares traded hands during mid-day trading, an increase of 671% from the average daily volume of 11,272,482 shares. The stock had previously closed at $77.03.

Wall Street Analyst Weigh In

Several research analysts have commented on SBUX shares. Jefferies Financial Group cut their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research report on Friday, May 3rd. The Goldman Sachs Group initiated coverage on Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price target for the company. Evercore ISI downgraded Starbucks from an “outperform” rating to an “inline” rating and dropped their price target for the company from $92.00 to $80.00 in a research report on Tuesday, July 16th. Finally, Wells Fargo & Company dropped their price target on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Fourteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.04.

Starbucks Trading Up 24.5 %

The stock has a 50 day simple moving average of $77.18 and a 200 day simple moving average of $83.82. The firm has a market capitalization of $108.63 billion, a PE ratio of 25.69, a PEG ratio of 1.80 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.00 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders 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 dividend yield of 2.38%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale, 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 three months, insiders have sold 7,250 shares of company stock valued at $579,375. Company insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Hedge funds have recently made changes to their positions in the company. First National Trust Co lifted its position in Starbucks by 2.2% during the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock worth $483,000 after acquiring an additional 106 shares during the period. Graybill Wealth Management LTD. lifted its position in Starbucks by 0.3% during the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after acquiring an additional 109 shares during the period. Versant Capital Management Inc lifted its position in Starbucks by 7.9% during the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after acquiring an additional 122 shares during the period. Valmark Advisers Inc. raised its stake in shares of Starbucks by 1.1% during the 4th quarter. Valmark Advisers Inc. now owns 10,857 shares of the coffee company’s stock valued at $1,042,000 after buying an additional 123 shares during the last quarter. Finally, McAdam LLC raised its stake in shares of Starbucks by 3.3% during the 4th quarter. McAdam LLC now owns 3,826 shares of the coffee company’s stock valued at $367,000 after buying an additional 124 shares during the last quarter. 72.29% of the stock is currently owned by 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.