Starbucks (NASDAQ:SBUX) Trading Down 0.2%

Starbucks Co. (NASDAQ:SBUX) shares were down 0.2% during trading on Tuesday . The company traded as low as $87.32 and last traded at $88.01. Approximately 1,408,367 shares traded hands during trading, a decline of 83% from the average daily volume of 8,364,376 shares. The stock had previously closed at $88.18.

Analyst Ratings Changes

A number of analysts have commented on SBUX shares. Jefferies Financial Group lowered their target price on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. BMO Capital Markets cut their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Guggenheim cut their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Stifel Nicolaus lowered their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $105.00 target price on shares of Starbucks in a research report on Monday, April 1st. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $106.68.

Starbucks Price Performance

The company has a market capitalization of $100.48 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.48 and a beta of 0.97. The company’s 50-day moving average price is $90.57 and its two-hundred day moving average price is $94.35.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. On average, equities research analysts expect that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.57%. Starbucks’s payout ratio is 60.96%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 7,250 shares of company stock valued at $651,738. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of institutional investors have recently made changes to their positions in SBUX. Vanguard Group Inc. boosted its stake in shares of Starbucks by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock valued at $10,362,673,000 after purchasing an additional 1,041,622 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Starbucks by 1.5% in the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after purchasing an additional 232,031 shares in the last quarter. Norges Bank purchased a new stake in shares of Starbucks in the 4th quarter valued at $1,240,652,000. Fisher Asset Management LLC boosted its stake in shares of Starbucks by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after purchasing an additional 268,030 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Starbucks by 11.8% in the 3rd quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after purchasing an additional 1,115,051 shares in the last quarter. Institutional investors 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.