Starbucks (NASDAQ:SBUX) Shares Up 0.3%

Starbucks Co. (NASDAQ:SBUX)’s stock price rose 0.3% on Monday . The company traded as high as $74.19 and last traded at $73.34. Approximately 5,854,907 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 9,423,142 shares. The stock had previously closed at $73.11.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Evercore ISI reduced their price target on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. TD Cowen lowered their price target on shares of Starbucks from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company reduced their price objective on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Barclays lowered their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. reduced their price target on Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $96.43.

Starbucks Stock Performance

The stock’s 50-day moving average price is $88.03 and its two-hundred day moving average price is $93.53. The stock has a market capitalization of $83.25 billion, a PE ratio of 20.25, a P/E/G ratio of 1.58 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter last year, the company posted $0.74 EPS. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, analysts predict that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced 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 3.10%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Activity

In related news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,250 shares of company stock worth $651,738 over the last three months. 1.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Starbucks

Several institutional investors have recently added to or reduced their stakes in SBUX. Vima LLC purchased a new position in Starbucks in the 4th quarter worth about $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new position in Starbucks during the fourth quarter valued at approximately $27,000. Riggs Asset Managment Co. Inc. boosted its holdings in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Fairman Group LLC purchased a new stake in Starbucks during the 4th quarter valued at $30,000. 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.