Starbucks Co. (NASDAQ:SBUX – Get Free Report)’s stock price fell 0.7% during mid-day trading on Thursday . The company traded as low as $76.07 and last traded at $76.26. 4,906,747 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 10,392,467 shares. The stock had previously closed at $76.83.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on SBUX. Robert W. Baird lowered their price objective on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Wells Fargo & Company lowered their price objective on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Jefferies Financial Group lowered their price objective on Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Citigroup lowered their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Guggenheim lowered their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $94.54.
Starbucks Trading Down 0.7 %
The firm has a market capitalization of $86.38 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.68 and a beta of 0.94. The company has a fifty day moving average price of $78.97 and a two-hundred day moving average price of $87.58.
Starbucks (NASDAQ:SBUX – Get Free Report) last released 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). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts expect that Starbucks Co. will post 3.58 earnings per share for the current year.
Starbucks Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.
Insiders Place Their Bets
In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders have sold 10,750 shares of company stock worth $878,893 over the last ninety days. Corporate insiders own 1.98% of the company’s stock.
Institutional Trading of Starbucks
Large investors have recently modified their holdings of the stock. Willow Creek Wealth Management Inc. increased its holdings in Starbucks by 3.0% in the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after buying an additional 97 shares during the last quarter. First National Trust Co increased its holdings in Starbucks by 2.2% in the fourth quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock valued at $483,000 after buying an additional 106 shares during the last quarter. Quent Capital LLC increased its holdings in Starbucks by 2.8% in the fourth quarter. Quent Capital LLC now owns 4,004 shares of the coffee company’s stock valued at $384,000 after buying an additional 108 shares during the last quarter. Graybill Wealth Management LTD. increased its holdings in Starbucks by 0.3% in the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after buying an additional 109 shares during the last quarter. Finally, Omega Financial Group LLC increased its holdings in Starbucks by 3.2% in the fourth quarter. Omega Financial Group LLC now owns 3,613 shares of the coffee company’s stock valued at $347,000 after buying an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.
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.
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