Starbucks (NASDAQ:SBUX) Shares Down 0.6%

Starbucks Co. (NASDAQ:SBUX) fell 0.6% during mid-day trading on Wednesday . The company traded as low as $92.55 and last traded at $92.58. 1,347,188 shares were traded during trading, a decline of 89% from the average session volume of 11,968,173 shares. The stock had previously closed at $93.18.

Wall Street Analysts Forecast Growth

Several research firms have commented on SBUX. Wedbush reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.42.

Starbucks Trading Down 0.8 %

The firm has a 50-day moving average of $82.14 and a two-hundred day moving average of $83.96. The firm has a market capitalization of $103.71 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the company posted $1.00 EPS. The company’s revenue was down .6% compared to the same quarter last year. Equities research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated 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 directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. In the last three months, insiders sold 9,790 shares of company stock valued at $865,514. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SBUX. Gryphon Financial Partners LLC grew its holdings in Starbucks by 96.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after acquiring an additional 2,558 shares in the last quarter. Montag A & Associates Inc. grew its stake in Starbucks by 57.1% in the fourth quarter. Montag A & Associates Inc. now owns 28,511 shares of the coffee company’s stock worth $2,737,000 after purchasing an additional 10,365 shares in the last quarter. First Western Trust Bank increased its holdings in Starbucks by 8.4% in the fourth quarter. First Western Trust Bank now owns 4,752 shares of the coffee company’s stock valued at $456,000 after buying an additional 367 shares during the last quarter. Principal Securities Inc. acquired a new stake in Starbucks during the fourth quarter valued at approximately $3,919,000. Finally, Kovitz Investment Group Partners LLC lifted its holdings in Starbucks by 9.1% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 44,672 shares of the coffee company’s stock worth $4,289,000 after buying an additional 3,744 shares during the last quarter. Institutional investors and hedge funds 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.