Starbucks (NASDAQ:SBUX) Stock Price Up 1.4%

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SBUX shares. Guggenheim decreased their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Wedbush reduced their target price on Starbucks from $81.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Jefferies Financial Group cut their price objective on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Stifel Nicolaus cut their price objective on Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Finally, Piper Sandler cut their price objective on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Seventeen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $91.71.

Starbucks Stock Up 1.6 %

The firm has a market cap of $85.25 billion, a PE ratio of 20.69, a P/E/G ratio of 1.68 and a beta of 0.94. The firm has a 50-day moving average price of $77.88 and a two-hundred day moving average price of $85.13.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during 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 business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 EPS. Research analysts forecast that Starbucks Co. will post 3.57 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed 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 is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 3.03%. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred 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 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 SEC, which is accessible through this link. In other Starbucks news, 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 value of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,250 shares of company stock worth $579,375. 1.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Starbucks

Institutional investors have recently added to or reduced their stakes in the business. PFG Advisors purchased a new stake in Starbucks during the 4th quarter worth $216,000. BLB&B Advisors LLC raised its stake in Starbucks by 20.6% during the fourth quarter. BLB&B Advisors LLC now owns 3,532 shares of the coffee company’s stock worth $339,000 after acquiring an additional 603 shares during the period. Horizon Wealth Management LLC increased its stake in shares of Starbucks by 6.7% in the fourth quarter. Horizon Wealth Management LLC now owns 2,542 shares of the coffee company’s stock valued at $244,000 after purchasing an additional 159 shares during the period. Miracle Mile Advisors LLC increased its stake in shares of Starbucks by 63.5% in the fourth quarter. Miracle Mile Advisors LLC now owns 6,890 shares of the coffee company’s stock valued at $662,000 after purchasing an additional 2,676 shares during the period. Finally, Bensler LLC increased its stake in shares of Starbucks by 4.6% in the fourth quarter. Bensler LLC now owns 18,931 shares of the coffee company’s stock valued at $1,818,000 after purchasing an additional 831 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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.