Starbucks (NASDAQ:SBUX) Stock Price Down 0.5%

Starbucks Co. (NASDAQ:SBUX) shares traded down 0.5% during mid-day trading on Thursday . The stock traded as low as $91.94 and last traded at $92.28. 2,434,136 shares were traded during trading, a decline of 80% from the average session volume of 11,982,084 shares. The stock had previously closed at $92.78.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Wedbush restated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Bank of America upped their target price on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price objective on shares of Starbucks in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.21.

Starbucks Stock Down 0.6 %

The company has a market cap of $104.48 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. The firm has a fifty day simple moving average of $78.97 and a 200-day simple moving average of $83.92.

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

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated 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 owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,790 shares of company stock worth $865,514. 1.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new position in Starbucks in the fourth quarter worth $38,000. Federated Hermes Inc. lifted its stake in shares of Starbucks by 22.7% in the fourth quarter. Federated Hermes Inc. now owns 67,595 shares of the coffee company’s stock valued at $6,490,000 after purchasing an additional 12,495 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. lifted its stake in shares of Starbucks by 1,299.8% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 466,506 shares of the coffee company’s stock valued at $44,789,000 after purchasing an additional 433,179 shares during the period. Wedge Capital Management L L P NC grew its position in Starbucks by 9.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,400 shares of the coffee company’s stock worth $230,000 after buying an additional 199 shares during the period. Finally, Illinois Municipal Retirement Fund increased its holdings in Starbucks by 130.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 80,137 shares of the coffee company’s stock valued at $7,694,000 after buying an additional 45,319 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

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.