Starbucks Co. (NASDAQ:SBUX – Get Free Report) was down 0.5% during mid-day trading on Wednesday . The stock traded as low as $76.39 and last traded at $76.45. Approximately 1,657,783 shares changed hands during trading, a decline of 84% from the average daily volume of 10,337,675 shares. The stock had previously closed at $76.83.
Analyst Ratings Changes
Several analysts recently issued reports on SBUX shares. UBS Group decreased their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $108.00 to $89.00 in a report on Wednesday, May 1st. Bank of America upped their price objective on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. TD Cowen reaffirmed a “hold” rating and set a $85.00 price objective on shares of Starbucks in a report on Thursday, June 13th. Finally, Jefferies Financial Group cut their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.54.
View Our Latest Stock Analysis on SBUX
Starbucks Stock Performance
The firm has a market cap of $86.54 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.70 and a beta of 0.94. The business’s 50-day moving average is $79.22 and its 200-day moving average is $87.66.
Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. Equities research analysts expect that Starbucks Co. will post 3.59 EPS for the current fiscal year.
Starbucks Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.
Insider Activity
In related news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,750 shares of company stock valued at $878,893. 1.98% of the stock is currently owned by insiders.
Institutional Trading of Starbucks
Several hedge funds have recently bought and sold shares of SBUX. Orca Investment Management LLC raised its holdings in shares of Starbucks by 6.6% in the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock valued at $719,000 after purchasing an additional 466 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Starbucks by 481.9% in the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after buying an additional 1,281,471 shares in the last quarter. Cox Capital Mgt LLC grew its stake in shares of Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after buying an additional 13,372 shares in the last quarter. Summa Corp. bought a new position in shares of Starbucks in the fourth quarter valued at $384,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Starbucks in the fourth quarter valued at $2,781,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.
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.
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