Starbucks (NASDAQ:SBUX) Trading Down 2.3%

Starbucks Co. (NASDAQ:SBUX)’s stock price was down 2.3% during trading on Wednesday . The company traded as low as $74.21 and last traded at $74.53. Approximately 2,375,788 shares changed hands during trading, a decline of 78% from the average daily volume of 10,569,755 shares. The stock had previously closed at $76.26.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their price objective on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group started coverage on Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price for the company. Guggenheim lowered their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, BTIG Research cut their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of “Hold” and an average target price of $91.71.

Starbucks Trading Up 1.0 %

The firm has a market cap of $83.88 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94. The firm’s 50 day moving average is $77.95 and its two-hundred day moving average is $85.38.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share. Analysts predict that Starbucks Co. will post 3.57 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 value of $260,000.00. Following the completion of the transaction, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’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 transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. In the last three months, insiders sold 7,250 shares of company stock valued at $579,375. 1.98% of the stock is owned by corporate insiders.

Institutional Trading of Starbucks

A number of institutional investors have recently made changes to their positions in the business. Vima LLC bought a new stake in Starbucks during the 4th quarter worth about $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $26,000. New Millennium Group LLC bought a new stake in Starbucks during the second quarter worth about $26,000. DSM Capital Partners LLC acquired a new position in Starbucks during the fourth quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Starbucks in the second quarter valued at approximately $27,000. 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.