Starbucks (NASDAQ:SBUX) Stock Price Up 1.3%

Starbucks Co. (NASDAQ:SBUX) shares were up 1.3% during trading on Tuesday . The stock traded as high as $96.90 and last traded at $96.84. Approximately 3,324,607 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 11,979,295 shares. The stock had previously closed at $95.63.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SBUX. HSBC lowered their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Morgan Stanley reissued an “overweight” rating and issued a $98.00 price objective on shares of Starbucks in a report on Wednesday, July 31st. Jefferies Financial Group reduced their target price on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. Finally, BMO Capital Markets reduced their price objective on Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.21.

Starbucks Price Performance

The firm has a 50-day moving average price of $80.16 and a two-hundred day moving average price of $83.83. The firm has a market capitalization of $107.95 billion, a P/E ratio of 26.25, a P/E/G ratio of 2.28 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. Sell-side analysts predict that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed 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 2.39%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, 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 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.

Hedge Funds Weigh In On Starbucks

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after purchasing an additional 470,498 shares during the last quarter. Norges Bank acquired a new position in shares of Starbucks in the fourth quarter valued at about $1,240,652,000. Fisher Asset Management LLC raised its stake in shares of Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after purchasing an additional 268,030 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Starbucks by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after buying an additional 27,496 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after purchasing an additional 221,718 shares during the last quarter. Institutional investors and hedge funds 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.