Starbucks (NASDAQ:SBUX) Shares Down 0.3%

Starbucks Co. (NASDAQ:SBUX)’s stock price fell 0.3% on Monday . The company traded as low as $94.43 and last traded at $94.57. 7,117,100 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 12,037,268 shares. The stock had previously closed at $94.86.

Analyst Ratings Changes

Several research firms have commented on SBUX. Jefferies Financial Group lowered their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. Citigroup raised their price objective on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. BMO Capital Markets dropped their price target on shares of Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Barclays lifted their price objective on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $99.21.

Starbucks Stock Down 1.5 %

The company’s fifty day moving average is $81.63 and its two-hundred day moving average is $83.84. The stock has a market cap of $105.59 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.26 and a beta of 0.96.

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, hitting the consensus estimate of $0.93. The business 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 company’s revenue for the quarter 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 3.56 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.57 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.45%. Starbucks’s payout ratio is currently 62.81%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cox Capital Mgt LLC raised its stake in Starbucks by 41.9% during the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after acquiring an additional 13,372 shares during the last quarter. Summa Corp. acquired a new stake in shares of Starbucks in the 4th quarter worth $384,000. Brevan Howard Capital Management LP purchased a new stake in shares of Starbucks in the fourth quarter valued at about $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new position in shares of Starbucks during the fourth quarter worth about $31,246,000. Finally, Fidelis Capital Partners LLC raised its holdings in Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

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.