Starbucks (NASDAQ:SBUX) Shares Down 0.3%

Starbucks Co. (NASDAQ:SBUX) traded down 0.3% on Tuesday . The company traded as low as $93.50 and last traded at $94.25. 1,534,476 shares were traded during mid-day trading, a decline of 87% from the average session volume of 11,975,120 shares. The stock had previously closed at $94.57.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. cut their price objective on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. TD Cowen lifted their target price on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays increased their price target on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.42.

Starbucks Stock Performance

The company has a 50-day simple moving average of $81.90 and a 200 day simple moving average of $83.90. The company has a market capitalization of $103.76 billion, a P/E ratio of 25.23, a P/E/G ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued 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. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the business posted $1.00 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current year.

Starbucks Dividend Announcement

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

Insider Transactions at Starbucks

In other 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 sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Friday, June 14th. The shares were 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 directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is owned by corporate insiders.

Institutional Trading of Starbucks

Several institutional investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks in the second quarter worth $25,000. Vima LLC acquired a new position in Starbucks in the fourth quarter worth $26,000. Scarborough Advisors LLC acquired a new position in Starbucks in the fourth quarter worth $26,000. New Millennium Group LLC acquired a new position in Starbucks in the second quarter worth $26,000. Finally, Stephens Consulting LLC boosted its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds 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.