Starbucks (NASDAQ:SBUX) Shares Up 0.1%

Starbucks Co. (NASDAQ:SBUX) shares shot up 0.1% during mid-day trading on Wednesday . The stock traded as high as $87.97 and last traded at $87.96. 1,477,731 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 8,333,851 shares. The stock had previously closed at $87.87.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBUX. Barclays lowered their price objective on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Morgan Stanley lowered their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. JPMorgan Chase & Co. dropped their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. Finally, Wedbush reissued a “neutral” rating and issued a $95.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus target price of $106.68.

Starbucks Stock Up 1.0 %

The stock’s 50-day moving average is $90.68 and its 200-day moving average is $94.39. The firm has a market cap of $100.48 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.75 EPS. As a group, analysts expect that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

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 Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 7,000 shares of company stock valued at $629,738 in the last 90 days. 1.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Starbucks

Institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC boosted its stake in shares of Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after purchasing an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC lifted its position in Starbucks by 15.4% during the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after buying an additional 7,619 shares in the last quarter. Tyche Wealth Partners LLC acquired a new position in Starbucks during the 4th quarter worth about $794,000. Insigneo Advisory Services LLC lifted its position in Starbucks by 60.6% during the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after buying an additional 3,570 shares in the last quarter. Finally, Motco lifted its position in Starbucks by 1.1% during the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after buying an additional 811 shares in 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.