Starbucks (NASDAQ:SBUX) Stock Price Down 1%

Starbucks Co. (NASDAQ:SBUX) shares dropped 1% on Thursday . The company traded as low as $87.68 and last traded at $87.83. Approximately 2,487,602 shares changed hands during trading, a decline of 70% from the average daily volume of 8,331,893 shares. The stock had previously closed at $88.75.

Analysts Set New Price Targets

SBUX has been the topic of a number of research analyst reports. Piper Sandler dropped their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. BTIG Research lowered their price target on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. BMO Capital Markets lowered their price target on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, January 31st. Barclays lowered their price target on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Finally, Stifel Nicolaus lowered their target price on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $106.68.

Starbucks Stock Down 1.0 %

The business has a 50-day moving average price of $90.57 and a 200-day moving average price of $94.35. The firm has a market capitalization of $99.45 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. On average, equities research analysts anticipate that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.60%. Starbucks’s payout ratio is 60.96%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 7,250 shares of company stock worth $651,738. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Starbucks by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after purchasing an additional 1,041,622 shares in the last quarter. Northern Trust Corp raised its stake in shares of Starbucks by 1.5% in the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after acquiring an additional 232,031 shares in the last quarter. Norges Bank acquired a new stake in shares of Starbucks in the fourth quarter valued at $1,240,652,000. Fisher Asset Management LLC raised its stake 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 valued at $1,091,378,000 after acquiring an additional 268,030 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Starbucks by 11.8% in the third quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after acquiring an additional 1,115,051 shares in the last quarter. 72.29% of the stock is currently 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.