Starbucks (NASDAQ:SBUX) Stock Price Down 1.1%

Starbucks Co. (NASDAQ:SBUX)’s share price fell 1.1% during trading on Monday . The company traded as low as $76.78 and last traded at $76.99. 1,793,398 shares changed hands during trading, a decline of 83% from the average session volume of 10,379,190 shares. The stock had previously closed at $77.85.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. 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. The Goldman Sachs Group assumed coverage on shares of Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective for the company. Wedbush reiterated a “neutral” rating and issued a $81.00 target price on shares of Starbucks in a research note on Friday, June 28th. Evercore ISI decreased their price target on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, Citigroup reduced their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a 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 company. According to data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and an average target price of $94.54.

Starbucks Stock Down 0.4 %

The company has a market capitalization of $87.03 billion, a P/E ratio of 21.17, a PEG ratio of 1.70 and a beta of 0.94. The company’s 50-day moving average is $79.44 and its two-hundred day moving average is $87.80.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter last year, the business posted $0.74 EPS. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.97%. 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 Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,750 shares of company stock valued at $878,893. Corporate insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Several institutional investors have recently added to or reduced their stakes in SBUX. Orca Investment Management LLC increased its position in Starbucks by 6.6% during the 4th 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 period. Cerity Partners LLC boosted its position in Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after acquiring an additional 1,281,471 shares in the last quarter. Cox Capital Mgt LLC grew its holdings in shares of 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 acquiring an additional 13,372 shares during the period. Summa Corp. bought a new position in shares of Starbucks in the 4th quarter worth approximately $384,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Starbucks in the 4th quarter valued at approximately $2,781,000. Hedge funds and other institutional investors 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.