Starbucks (NASDAQ:SBUX) Trading 2.5% Higher

Starbucks Co. (NASDAQ:SBUX) was up 2.5% during mid-day trading on Tuesday . The stock traded as high as $75.78 and last traded at $75.73. Approximately 4,751,424 shares were traded during trading, a decline of 56% from the average daily volume of 10,834,961 shares. The stock had previously closed at $73.86.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. BMO Capital Markets decreased their price objective on shares of Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Jefferies Financial Group decreased their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus lowered their price target on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. dropped their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, Bank of America boosted their price objective on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 10th. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.88.

Starbucks Trading Up 2.0 %

The firm has a market capitalization of $85.41 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.76 and a beta of 0.94. The stock’s 50-day moving average is $77.51 and its 200-day moving average is $84.42.

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, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the business earned $1.00 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders 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 dividend yield of 3.03%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Transactions at Starbucks

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vima LLC acquired a new position in Starbucks in the fourth quarter valued at $26,000. Scarborough Advisors LLC bought a new position in shares of Starbucks in the 4th quarter worth about $26,000. New Millennium Group LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at about $26,000. Stephens Consulting LLC boosted its position in shares of Starbucks by 498.2% during 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 in the last quarter. Finally, DSM Capital Partners LLC acquired a new stake in Starbucks during the fourth quarter worth 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.