Starbucks (NASDAQ:SBUX) Trading 0.4% Higher

Starbucks Co. (NASDAQ:SBUX) traded up 0.4% during trading on Monday . The company traded as high as $88.12 and last traded at $87.93. 1,735,369 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 8,366,399 shares. The stock had previously closed at $87.61.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SBUX. Morgan Stanley cut their price target 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. BTIG Research cut their price target on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Wells Fargo & Company reiterated an “overweight” rating and set a $105.00 price target on shares of Starbucks in a research note on Monday, April 1st. Barclays cut their price target 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. Finally, Wedbush restated a “neutral” rating and issued a $95.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $106.68.

Starbucks Price Performance

The business’s 50-day moving average price is $90.68 and its two-hundred day moving average price is $94.39. The firm has a market cap of $99.49 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the firm earned $0.75 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.59%. Starbucks’s dividend payout ratio is currently 60.96%.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 7,000 shares of company stock worth $629,738 over the last ninety days. 1.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Starbucks by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock valued at $10,362,673,000 after acquiring an additional 1,041,622 shares during the last quarter. Northern Trust Corp boosted its stake in Starbucks by 1.5% during the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after acquiring an additional 232,031 shares during the last quarter. Norges Bank bought a new position in Starbucks during the 4th quarter valued at $1,240,652,000. Fisher Asset Management LLC boosted its stake in Starbucks by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after acquiring an additional 268,030 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Starbucks by 11.8% during the 3rd quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after acquiring an additional 1,115,051 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

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.