Starbucks (NASDAQ:SBUX) Stock Price Up 1.4%

Starbucks Co. (NASDAQ:SBUX)’s share price rose 1.4% during mid-day trading on Monday . The company traded as high as $75.55 and last traded at $75.09. Approximately 2,031,717 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 10,639,581 shares. The stock had previously closed at $74.05.

Analysts Set New Price Targets

SBUX has been the topic of a number of research analyst reports. Piper Sandler decreased their price objective on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. BTIG Research dropped their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on Starbucks from $89.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Finally, The Goldman Sachs Group assumed 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. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $91.67.

Starbucks Stock Up 1.0 %

The company has a market capitalization of $86.02 billion, a P/E ratio of 20.92, a P/E/G ratio of 1.70 and a beta of 0.94. The firm has a fifty day simple moving average of $77.79 and a 200-day simple moving average of $84.89.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. Starbucks’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 EPS. On average, sell-side analysts predict that Starbucks Co. will post 3.57 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

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 paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly 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 7,250 shares of company stock valued at $579,375 in the last 90 days. 1.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Starbucks

A number of large investors have recently modified their holdings of the business. Scarborough Advisors LLC bought a new position in Starbucks in the fourth quarter valued at approximately $26,000. Vima LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks in the fourth quarter valued at $27,000. Fairman Group LLC acquired a new stake in Starbucks in the fourth quarter valued at $30,000. Finally, Cypress Capital Management LLC WY grew its position in shares of 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 acquiring an additional 185 shares during the period. 72.29% of the stock is currently 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.