Starbucks (NASDAQ:SBUX) Trading 3.9% Higher

Starbucks Co. (NASDAQ:SBUX) shares traded up 3.9% during mid-day trading on Monday . The stock traded as high as $78.19 and last traded at $78.04. 4,078,471 shares changed hands during trading, a decline of 62% from the average session volume of 10,756,073 shares. The stock had previously closed at $75.09.

Analyst Ratings Changes

A number of research firms have weighed in on SBUX. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price target on shares of Starbucks in a research note on Wednesday, July 31st. BMO Capital Markets cut their price target on shares of Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Jefferies Financial Group cut their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $120.00 in a research note on Wednesday. Finally, Wedbush reaffirmed a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research note on Tuesday. Twelve investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.79.

Starbucks Stock Performance

The business’s 50 day moving average price is $77.44 and its two-hundred day moving average price is $83.84. The company has a market capitalization of $106.41 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 EPS. On average, sell-side analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction 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 $6,264,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Rachel Ruggeri sold 3,750 shares of the business’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 transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders sold a total of 7,250 shares of company stock valued at $579,375 over the last ninety days. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

A number of large investors have recently made changes to their positions in SBUX. Vanguard Group Inc. increased its stake in Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after buying an additional 470,498 shares during the period. Norges Bank acquired a new position in Starbucks in the 4th quarter valued at approximately $1,240,652,000. Fisher Asset Management LLC increased its stake in shares of Starbucks by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after purchasing an additional 268,030 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Starbucks by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after purchasing an additional 27,496 shares during the last quarter. Finally, Flossbach Von Storch AG increased its stake in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the last quarter. 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.