Starbucks (NASDAQ:SBUX) Trading 1.3% Higher

Starbucks Co. (NASDAQ:SBUX) shares rose 1.3% during mid-day trading on Friday . The stock traded as high as $94.21 and last traded at $93.62. Approximately 2,343,793 shares traded hands during trading, a decline of 80% from the average daily volume of 11,969,432 shares. The stock had previously closed at $92.43.

Wall Street Analyst Weigh In

SBUX has been the topic of several recent research reports. Wells Fargo & Company decreased their price objective on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $118.00 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 objective on the stock. UBS Group decreased their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.21.

Starbucks Stock Up 1.7 %

The business has a 50 day simple moving average of $79.51 and a two-hundred day simple moving average of $83.90. The firm has a market cap of $106.50 billion, a PE ratio of 25.90, a price-to-earnings-growth 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 for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the firm posted $1.00 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Equities analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given 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 of this dividend is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Starbucks

A number of institutional investors have recently added to or reduced their stakes in the stock. Vima LLC acquired a new stake in Starbucks in the fourth quarter worth about $26,000. Scarborough Advisors LLC acquired a new stake in Starbucks in the fourth quarter worth about $26,000. New Millennium Group LLC acquired a new stake in Starbucks in the second quarter worth about $26,000. Stephens Consulting LLC boosted its holdings in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares in the last quarter. Finally, DSM Capital Partners LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at $27,000. 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.