Starbucks (NASDAQ:SBUX) Stock Price Up 2.1%

Starbucks Co. (NASDAQ:SBUX) shot up 2.1% during trading on Wednesday . The company traded as high as $79.72 and last traded at $79.35. 4,608,264 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 10,032,291 shares. The stock had previously closed at $77.72.

Analysts Set New Price Targets

SBUX has been the subject of several recent research reports. Citigroup decreased their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Guggenheim dropped their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. William Blair cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Starbucks from a “buy” rating to a “hold” rating and dropped their price target for the stock from $108.00 to $89.00 in a research note on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of “Hold” and a consensus price target of $96.43.

Starbucks Price Performance

The firm has a market cap of $89.38 billion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. The business’s 50-day moving average price is $84.31 and its two-hundred day moving average price is $92.05.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the prior year, the firm earned $0.74 EPS. Starbucks’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.89%. 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 business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, 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 document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 4,000 shares of company stock valued at $342,050. Insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several large investors have recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in Starbucks in the 4th quarter worth $26,000. Vima LLC acquired a new position in shares of Starbucks in the fourth quarter worth about $26,000. DSM Capital Partners LLC purchased a new position in Starbucks in the fourth quarter valued at about $27,000. Fairman Group LLC acquired a new stake in Starbucks during the 4th quarter valued at approximately $30,000. Finally, Riggs Asset Managment Co. Inc. raised its position in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. 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.