Starbucks (NASDAQ:SBUX) Trading Down 3.4%

Starbucks Co. (NASDAQ:SBUX)’s stock price traded down 3.4% during trading on Wednesday . The stock traded as low as $91.79 and last traded at $92.68. 13,764,437 shares changed hands during trading, an increase of 17% from the average session volume of 11,772,177 shares. The stock had previously closed at $95.90.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SBUX. BTIG Research dropped their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Jefferies Financial Group reduced their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $120.00 in a research report on Wednesday. Wedbush reissued a “neutral” rating and set a $80.00 target price on shares of Starbucks in a research report on Tuesday. Finally, HSBC dropped their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.79.

Starbucks Price Performance

The stock has a fifty day moving average of $77.96 and a 200 day moving average of $83.99. The stock has a market cap of $107.44 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.80 and a beta of 0.94.

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

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks 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 directly owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $300,000.00. Following the transaction, the chief financial officer now 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 have sold a total of 10,540 shares of company stock worth $879,291 in the last quarter. Company insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Institutional investors and hedge funds have recently modified their holdings of the stock. Tennessee Valley Asset Management Partners bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $38,000. Flputnam Investment Management Co. lifted its position in shares of Starbucks by 25.0% in the fourth quarter. Flputnam Investment Management Co. now owns 4,573 shares of the coffee company’s stock worth $439,000 after purchasing an additional 915 shares in the last quarter. Rakuten Securities Inc. bought a new position in shares of Starbucks in the 4th quarter valued at about $55,000. Oakworth Capital Inc. grew its position in shares of Starbucks by 9.0% in the 4th quarter. Oakworth Capital Inc. now owns 4,254 shares of the coffee company’s stock valued at $408,000 after acquiring an additional 350 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Starbucks by 4.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 184,346 shares of the coffee company’s stock worth $17,699,000 after acquiring an additional 8,140 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

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.