Starbucks (NASDAQ:SBUX) Trading Down 0.5%

Starbucks Co. (NASDAQ:SBUX) fell 0.5% during mid-day trading on Thursday . The stock traded as low as $91.94 and last traded at $92.28. 2,434,136 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 11,982,084 shares. The stock had previously closed at $92.78.

Analysts Set New Price Targets

Several brokerages recently weighed in on SBUX. TD Cowen raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $81.00 to $105.00 in a research report on Tuesday, August 13th. Barclays lifted their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. The Goldman Sachs Group initiated coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price target on the stock. HSBC reduced their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Finally, Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.21.

Starbucks Price Performance

The business has a 50-day simple moving average of $79.51 and a 200 day simple moving average of $83.99. The firm has a market cap of $106.50 billion, a PE ratio of 25.90, a PEG ratio of 2.28 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the firm posted $1.00 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,790 shares of company stock valued at $865,514. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. boosted its stake in Starbucks by 22.7% during the fourth quarter. Federated Hermes Inc. now owns 67,595 shares of the coffee company’s stock valued at $6,490,000 after buying an additional 12,495 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its position in shares of Starbucks by 1,299.8% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 466,506 shares of the coffee company’s stock valued at $44,789,000 after acquiring an additional 433,179 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Starbucks by 9.0% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,400 shares of the coffee company’s stock valued at $230,000 after purchasing an additional 199 shares in the last quarter. Herold Advisors Inc. increased its position in Starbucks by 6.2% in the fourth quarter. Herold Advisors Inc. now owns 2,572 shares of the coffee company’s stock worth $247,000 after purchasing an additional 150 shares during the last quarter. Finally, Kovack Advisors Inc. raised its stake in Starbucks by 3.6% during the fourth quarter. Kovack Advisors Inc. now owns 7,879 shares of the coffee company’s stock valued at $756,000 after purchasing an additional 277 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Company Profile

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.