Starbucks (NASDAQ:SBUX) Trading Down 0.8%

Shares of Starbucks Co. (NASDAQ:SBUX) were down 0.8% during trading on Friday . The company traded as low as $75.42 and last traded at $75.67. Approximately 2,041,530 shares were traded during trading, a decline of 80% from the average daily volume of 10,295,558 shares. The stock had previously closed at $76.26.

Analysts Set New Price Targets

A number of analysts have recently commented on SBUX shares. Deutsche Bank Aktiengesellschaft lowered Starbucks from a “buy” rating to a “hold” rating and cut their price target for the company from $108.00 to $89.00 in a research note on Wednesday, May 1st. Wedbush reissued a “neutral” rating and set a $81.00 price target on shares of Starbucks in a research note on Friday, June 28th. HSBC lowered their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Stifel Nicolaus lowered their price objective on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Finally, DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research report on Friday, May 3rd. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $94.54.

Starbucks Price Performance

The stock has a market cap of $85.88 billion, a P/E ratio of 20.85, a P/E/G ratio of 1.67 and a beta of 0.94. The company has a fifty day moving average price of $78.74 and a 200 day moving average price of $87.50.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given 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 dividend yield of 3.01%. Starbucks’s payout ratio is 62.81%.

Insider Activity at Starbucks

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 transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock valued at $878,893 over the last 90 days. Insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several hedge funds have recently made changes to their positions in SBUX. Norges Bank bought a new stake in shares of Starbucks in the fourth quarter valued at $1,240,652,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks during the 1st quarter valued at $415,167,000. Flossbach Von Storch AG raised 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 valued at $512,943,000 after purchasing an additional 2,897,282 shares during the period. Capital World Investors bought a new stake in shares of Starbucks during the 1st quarter valued at $257,721,000. Finally, Van ECK Associates Corp raised its stake in shares of Starbucks by 2,624.3% during the 1st quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after purchasing an additional 2,071,378 shares during the period. 72.29% of the stock is currently owned by institutional investors.

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.