Starbucks (NASDAQ:SBUX) Trading 1.4% Higher

Shares of Starbucks Co. (NASDAQ:SBUX) traded up 1.4% on Friday . The stock traded as high as $76.43 and last traded at $76.13. 6,036,517 shares were traded during mid-day trading, a decline of 44% from the average session volume of 10,806,356 shares. The stock had previously closed at $75.11.

Analyst Upgrades and Downgrades

Several research firms recently commented on SBUX. Deutsche Bank Aktiengesellschaft reduced their price objective on Starbucks from $89.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. UBS Group lowered their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Wells Fargo & Company decreased their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Finally, Bank of America increased their target price on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 10th. Seventeen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and a consensus target price of $90.88.

Starbucks Stock Performance

The firm’s 50 day simple moving average is $77.67 and its 200 day simple moving average is $84.77. The firm has a market capitalization of $86.46 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.78 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 48.78% and a net margin of 11.16%. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 earnings per share. As a group, sell-side analysts forecast that Starbucks Co. will post 3.54 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed 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 is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks 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 owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,250 shares of company stock worth $579,375. Insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vima LLC acquired a new stake in Starbucks during the 4th quarter worth $26,000. Scarborough Advisors LLC purchased a new stake in Starbucks during the 4th quarter valued at approximately $26,000. New Millennium Group LLC acquired a new stake in Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC grew its stake in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Finally, DSM Capital Partners LLC acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds 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.