Starbucks (NASDAQ:SBUX) Shares Down 0.5%

Starbucks Co. (NASDAQ:SBUX) traded down 0.5% during mid-day trading on Wednesday . The company traded as low as $76.39 and last traded at $76.45. 1,657,783 shares traded hands during trading, a decline of 84% from the average session volume of 10,337,675 shares. The stock had previously closed at $76.83.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BTIG Research reduced their target price on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Stifel Nicolaus reduced their target price on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Citigroup reduced their target price 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. Jefferies Financial Group reduced their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Finally, Guggenheim reduced their target price 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. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $94.54.

Starbucks Trading Down 0.7 %

The stock has a market capitalization of $86.38 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 1.67 and a beta of 0.94. The stock’s fifty day moving average price is $78.74 and its two-hundred day moving average price is $87.50.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate 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 was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. As a group, analysts expect that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company 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. This represents a $2.28 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 transaction, the chief executive officer now 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 is accessible through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 transaction, the chief executive officer now 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 is accessible through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’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 transaction, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock worth $878,893 in the last quarter. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vima LLC bought a new position in Starbucks during the 4th quarter valued at about $26,000. Scarborough Advisors LLC bought a new position in Starbucks during the 4th quarter valued at about $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks in the 4th quarter worth approximately $27,000. Fairman Group LLC bought a new position in shares of Starbucks in the 4th quarter worth approximately $30,000. Finally, Cypress Capital Management LLC WY lifted its stake in shares of Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after purchasing an additional 185 shares during the period. 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.