Starbucks (NASDAQ:SBUX) Trading Up 0.1% Following Analyst Upgrade

Starbucks Co. (NASDAQ:SBUX) shares rose 0.1% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $105.00 to $110.00. TD Cowen currently has a buy rating on the stock. Starbucks traded as high as $92.99 and last traded at $92.44. Approximately 1,558,150 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 11,942,962 shares. The stock had previously closed at $92.33.

A number of other research firms have also recently commented on SBUX. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Starbucks in a research report on Tuesday, August 13th. Bank of America boosted their price objective on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Citigroup lifted their price target on shares of Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Finally, The Goldman Sachs Group initiated coverage on shares of Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price on the stock. 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 given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.42.

Insider Activity

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

Institutional Trading of Starbucks

A number of large investors have recently bought and sold shares of SBUX. Graybill Wealth Management LTD. lifted its position in Starbucks by 0.3% in the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after purchasing an additional 109 shares during the period. Versant Capital Management Inc boosted its stake in shares of Starbucks by 7.9% during the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after acquiring an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its holdings in shares of Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after acquiring an additional 127 shares during the period. Bedel Financial Consulting Inc. raised its holdings in Starbucks by 2.1% during the fourth quarter. Bedel Financial Consulting Inc. now owns 6,423 shares of the coffee company’s stock worth $617,000 after purchasing an additional 132 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC raised its holdings in Starbucks by 4.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock worth $275,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 0.4 %

The company has a market cap of $103.25 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The company has a fifty day simple moving average of $82.41 and a two-hundred day simple moving average of $83.94.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 EPS. On average, research analysts predict that Starbucks Co. will post 3.56 EPS for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.50%. Starbucks’s dividend payout ratio is currently 62.81%.

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.