Starbucks (NASDAQ:SBUX) Shares Down 3.4%

Starbucks Co. (NASDAQ:SBUX)’s stock price was down 3.4% during trading on Wednesday . The company traded as low as $91.79 and last traded at $92.68. Approximately 13,764,437 shares were traded during trading, an increase of 17% from the average daily volume of 11,772,177 shares. The stock had previously closed at $95.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SBUX shares. JPMorgan Chase & Co. dropped their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. DZ Bank lowered Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a report on Friday, May 3rd. Wells Fargo & Company decreased their price target on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. UBS Group cut their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, TD Cowen raised Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the stock from $81.00 to $105.00 in a research note on Tuesday. Twelve investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.79.

Starbucks Stock Down 0.1 %

The business has a 50-day simple moving average of $77.96 and a 200-day simple moving average of $83.99. The stock has a market cap of $107.44 billion, a P/E ratio of 25.96, a PEG ratio of 1.80 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. On average, analysts predict that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.40%. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 transaction, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was 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 directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders sold a total of 10,540 shares of company stock worth $879,291 over the last quarter. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after buying an additional 470,498 shares during the period. Norges Bank purchased a new stake in Starbucks during the 4th quarter valued at approximately $1,240,652,000. Fisher Asset Management LLC increased its holdings in shares of Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after purchasing an additional 268,030 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Starbucks by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after purchasing an additional 27,496 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Starbucks by 2.6% in the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after acquiring an additional 221,718 shares in the last quarter. 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.