Starbucks (NASDAQ:SBUX) Sees Unusually-High Trading Volume

Starbucks Co. (NASDAQ:SBUX) saw unusually-high trading volume on Thursday . Approximately 3,348,427 shares changed hands during trading, a decline of 68% from the previous session’s volume of 10,369,566 shares.The stock last traded at $78.87 and had previously closed at $79.15.

Analysts Set New Price Targets

SBUX has been the subject of a number of recent research reports. TD Cowen reiterated a “hold” rating and set a $85.00 price objective on shares of Starbucks in a research note on Thursday, June 13th. JPMorgan Chase & Co. reduced their price objective on Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Piper Sandler dropped their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Guggenheim dropped their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $94.54.

Starbucks Stock Performance

The stock has a market cap of $88.18 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. The company’s 50-day moving average price is $79.66 and its 200 day moving average price is $88.09.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS. As a group, equities research analysts predict that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.57 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.93%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insiders Place Their Bets

In other Starbucks 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 transaction of $260,000.00. Following the transaction, the chief executive officer now 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 a total of 10,750 shares of company stock worth $878,893 over the last 90 days. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of institutional investors and hedge funds have recently modified their holdings of SBUX. CWA Asset Management Group LLC grew its stake in shares of Starbucks by 9.9% during the third quarter. CWA Asset Management Group LLC now owns 3,341 shares of the coffee company’s stock worth $305,000 after purchasing an additional 300 shares in the last quarter. Waverly Advisors LLC boosted its stake in Starbucks by 15.7% in the third quarter. Waverly Advisors LLC now owns 5,343 shares of the coffee company’s stock valued at $488,000 after acquiring an additional 726 shares in the last quarter. First Business Financial Services Inc. boosted its stake in Starbucks by 5.7% in the third quarter. First Business Financial Services Inc. now owns 2,605 shares of the coffee company’s stock valued at $238,000 after acquiring an additional 141 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Starbucks by 5.4% in the third quarter. SRS Capital Advisors Inc. now owns 4,258 shares of the coffee company’s stock valued at $389,000 after acquiring an additional 219 shares in the last quarter. Finally, Insigneo Advisory Services LLC boosted its stake in Starbucks by 60.6% in the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after acquiring an additional 3,570 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.