Starbucks (NASDAQ:SBUX) Shares Up 2.3%

Starbucks Co. (NASDAQ:SBUX)’s stock price shot up 2.3% on Thursday . The company traded as high as $75.24 and last traded at $75.22. 4,639,903 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 9,813,524 shares. The stock had previously closed at $73.50.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Piper Sandler dropped their price target on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday. HSBC reduced their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Robert W. Baird cut their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Finally, BMO Capital Markets lowered their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $96.43.

Starbucks Price Performance

The firm has a market capitalization of $85.72 billion, a P/E ratio of 20.85, a P/E/G ratio of 1.58 and a beta of 0.97. The stock’s fifty day simple moving average is $87.64 and its 200 day simple moving average is $93.39.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS. As a group, sell-side analysts forecast that Starbucks Co. will post 3.63 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.01%. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 7,250 shares of company stock worth $651,738 in the last ninety days. 1.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Orca Investment Management LLC grew its holdings in Starbucks by 6.6% during the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after acquiring an additional 466 shares during the period. Cerity Partners LLC boosted its holdings in Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after buying an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC grew its position in Starbucks by 15.4% during the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after buying an additional 7,619 shares during the period. FFT Wealth Management LLC purchased a new position in Starbucks in the fourth quarter valued at $209,000. Finally, Tyche Wealth Partners LLC acquired a new position in shares of Starbucks in the fourth quarter worth about $794,000. 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.