Starbucks (NASDAQ:SBUX) Trading Down 0.3%

Starbucks Co. (NASDAQ:SBUX) shares dropped 0.3% during trading on Thursday . The company traded as low as $92.98 and last traded at $93.61. Approximately 4,519,650 shares were traded during trading, a decline of 62% from the average daily volume of 11,929,635 shares. The stock had previously closed at $93.90.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SBUX shares. William Blair lowered Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Barclays increased their price target on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday. BMO Capital Markets decreased their price objective on shares of Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Jefferies Financial Group cut their price objective 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $118.00 in a research report on Wednesday. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $98.79.

Starbucks Price Performance

The firm has a market cap of $107.52 billion, a PE ratio of 25.79, a PEG ratio of 1.80 and a beta of 0.94. The business’s 50 day moving average price is $77.69 and its 200 day moving average price is $83.91.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate 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 negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS. As a group, analysts predict 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. Shareholders of record on Friday, August 16th will be paid 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 2.40%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’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 directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were 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 owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was 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 of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Insiders sold 7,250 shares of company stock worth $579,375 over the last three months. Insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several hedge funds have recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new position in Starbucks in the fourth quarter valued at approximately $26,000. Vima LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks during the 4th quarter worth $27,000. Fairman Group LLC acquired a new stake in shares of Starbucks during the 4th quarter worth about $30,000. Finally, Cypress Capital Management LLC WY raised its holdings in Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors 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.