Starbucks (NASDAQ:SBUX) Shares Down 1.5%

Starbucks Co. (NASDAQ:SBUX)’s stock price was down 1.5% during trading on Friday . The stock traded as low as $77.61 and last traded at $78.08. Approximately 2,455,694 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 10,361,723 shares. The stock had previously closed at $79.24.

Analyst Ratings Changes

Several equities research analysts have recently commented on SBUX shares. Stifel Nicolaus reduced their target price on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. Piper Sandler reduced their target price on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. UBS Group reduced their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Bank of America upped their price target on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Morgan Stanley dropped their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $94.54.

Starbucks Trading Down 1.7 %

The stock has a market cap of $88.18 billion, a P/E ratio of 21.45, a PEG ratio of 1.73 and a beta of 0.96. The firm has a 50-day simple moving average of $79.66 and a two-hundred day simple moving average of $88.02.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the previous year, the business posted $0.74 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Sell-side analysts predict that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 3,750 shares of the firm’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 directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated 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 directly owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Insiders have sold 10,750 shares of company stock valued at $878,893 over the last ninety days. 1.98% of the stock is owned by corporate insiders.

Institutional Trading of Starbucks

Hedge funds have recently made changes to their positions in the company. Orca Investment Management LLC boosted its stake in shares of Starbucks by 6.6% during 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 in the last quarter. Cerity Partners LLC boosted its stake in shares of Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after purchasing an additional 1,281,471 shares in the last quarter. Cox Capital Mgt LLC boosted its stake in shares of Starbucks by 41.9% during the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after purchasing an additional 13,372 shares in the last quarter. Summa Corp. acquired a new position in shares of Starbucks in the fourth quarter worth approximately $384,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Starbucks in the fourth quarter worth approximately $2,781,000. 72.29% of the stock is 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.