Starbucks (NASDAQ:SBUX) Stock Price Down 0.2%

Starbucks Co. (NASDAQ:SBUX) dropped 0.2% during mid-day trading on Tuesday . The company traded as low as $73.73 and last traded at $74.40. Approximately 1,911,275 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 10,281,378 shares. The stock had previously closed at $74.57.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent research reports. Stifel Nicolaus lowered their price objective 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. Bank of America lifted 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. BTIG Research lowered their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Guggenheim lowered their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Finally, Robert W. Baird lowered their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and an average price target of $94.46.

Starbucks Price Performance

The stock’s 50-day moving average price is $77.87 and its 200-day moving average price is $86.83. The company has a market cap of $83.03 billion, a P/E ratio of 20.23, a PEG ratio of 1.63 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. As a group, analysts expect that Starbucks Co. will post 3.58 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 3.11%. Starbucks’s dividend payout ratio is 62.81%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’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 transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders sold 10,750 shares of company stock valued at $878,893 over the last quarter. 1.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. BDF Gestion acquired a new position in Starbucks during the second quarter worth about $2,855,000. First Financial Corp IN raised its stake in Starbucks by 1.5% during the second quarter. First Financial Corp IN now owns 9,768 shares of the coffee company’s stock worth $760,000 after acquiring an additional 140 shares in the last quarter. Butensky & Cohen Financial Security Inc. raised its stake in Starbucks by 3.2% during the second quarter. Butensky & Cohen Financial Security Inc. now owns 48,453 shares of the coffee company’s stock worth $3,772,000 after acquiring an additional 1,515 shares in the last quarter. Threadgill Financial LLC increased its stake in shares of Starbucks by 25.8% in the second quarter. Threadgill Financial LLC now owns 31,863 shares of the coffee company’s stock valued at $2,481,000 after buying an additional 6,535 shares during the period. Finally, O Keefe Stevens Advisory Inc. increased its stake in shares of Starbucks by 48.7% in the second quarter. O Keefe Stevens Advisory Inc. now owns 3,455 shares of the coffee company’s stock valued at $269,000 after buying an additional 1,132 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.