Starbucks (NASDAQ:SBUX) Sets New 12-Month Low at $89.02

Starbucks Co. (NASDAQ:SBUXGet Free Report)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $89.02 and last traded at $89.30, with a volume of 685813 shares. The stock had previously closed at $89.30.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SBUX. BMO Capital Markets lowered their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Wells Fargo & Company reissued an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a research report on Monday. Wedbush reissued a “neutral” rating and issued a $95.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Barclays decreased their price target on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Finally, Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Tuesday, January 16th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $109.24.

View Our Latest Research Report on Starbucks

Starbucks Trading Up 0.2 %

The company’s 50 day moving average is $92.87 and its 200 day moving average is $95.00. The stock has a market capitalization of $101.35 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 1.46 and a beta of 0.98.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Analysts anticipate that Starbucks Co. will post 4.06 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 4,000 shares of company stock valued at $375,665 over the last quarter. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Starbucks by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after buying an additional 1,041,622 shares in the last quarter. State Street Corp boosted its holdings in Starbucks by 3.4% during the second quarter. State Street Corp now owns 45,619,709 shares of the coffee company’s stock worth $4,519,088,000 after buying an additional 1,499,524 shares in the last quarter. Morgan Stanley boosted its holdings in Starbucks by 46.3% during the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after buying an additional 8,451,599 shares in the last quarter. Northern Trust Corp boosted its holdings in Starbucks by 1.5% during the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after buying an additional 232,031 shares in the last quarter. Finally, Norges Bank purchased a new stake in Starbucks during the fourth quarter worth about $1,240,652,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Company Profile

(Get Free Report)

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.

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