Starbucks (NASDAQ:SBUX) Shares Down 0.6%

Starbucks Co. (NASDAQ:SBUX)’s stock price traded down 0.6% during trading on Tuesday . The company traded as low as $76.47 and last traded at $76.69. 1,361,050 shares were traded during mid-day trading, a decline of 87% from the average session volume of 10,344,825 shares. The stock had previously closed at $77.13.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. William Blair cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Guggenheim cut their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Wedbush reaffirmed a “neutral” rating and issued a $81.00 price objective on shares of Starbucks in a research note on Friday, June 28th. Finally, Citigroup cut their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus target price of $94.54.

Starbucks Stock Performance

The company’s 50-day moving average price is $79.22 and its 200 day moving average price is $87.66. The stock has a market capitalization of $86.38 billion, a PE ratio of 21.01, a PEG ratio of 1.68 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share. Analysts expect that Starbucks Co. will post 3.58 earnings per share for the current 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 $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.99%. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The disclosure for this sale can be found here. Insiders sold a total of 10,750 shares of company stock worth $878,893 in the last three months. 1.98% of the stock is owned by corporate insiders.

Institutional Trading of Starbucks

A number of institutional investors and hedge funds have recently bought and sold shares of SBUX. Vima LLC bought a new stake in shares of Starbucks in the fourth quarter worth approximately $26,000. Scarborough Advisors LLC bought a new stake in shares of Starbucks in the fourth quarter worth approximately $26,000. DSM Capital Partners LLC bought a new stake in shares of Starbucks in the fourth quarter worth approximately $27,000. Riggs Asset Managment Co. Inc. grew its stake in shares of Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the period. Finally, Fairman Group LLC bought a new stake in shares of Starbucks in the fourth quarter worth approximately $30,000. 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.