Starbucks (NASDAQ:SBUX) Trading Down 0.2%

Starbucks Co. (NASDAQ:SBUX)’s share price dropped 0.2% during mid-day trading on Tuesday . The company traded as low as $87.32 and last traded at $88.01. Approximately 1,408,367 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 8,364,376 shares. The stock had previously closed at $88.18.

Analyst Ratings Changes

SBUX has been the subject of a number of recent analyst reports. Wells Fargo & Company restated an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. Morgan Stanley dropped their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Wedbush reissued a “neutral” rating and issued a $95.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Citigroup dropped their price objective on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Tuesday, January 16th. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.68.

Starbucks Trading Up 1.0 %

The stock’s 50-day moving average price is $90.57 and its 200-day moving average price is $94.35. The company has a market capitalization of $100.48 billion, a P/E ratio of 23.73, a P/E/G ratio of 1.48 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly 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). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts expect that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.57%. Starbucks’s dividend payout ratio is presently 60.96%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated 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 directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 7,250 shares of company stock worth $651,738 in the last ninety days. 1.98% of the stock is owned by insiders.

Institutional Trading of Starbucks

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased 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 buying an additional 1,041,622 shares during the period. Northern Trust Corp increased 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 buying an additional 232,031 shares during the period. Norges Bank acquired a new position in Starbucks during the 4th quarter valued at about $1,240,652,000. Fisher Asset Management LLC increased 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 buying an additional 268,030 shares during the period. Finally, Invesco Ltd. increased 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 buying an additional 1,115,051 shares during the period. 72.29% of the stock is currently owned by 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.