Starbucks (NASDAQ:SBUX) Stock Price Up 0.3%

Shares of Starbucks Co. (NASDAQ:SBUX) shot up 0.3% on Monday . The company traded as high as $74.19 and last traded at $73.34. 5,854,907 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 9,423,142 shares. The stock had previously closed at $73.11.

Analysts Set New Price Targets

Several research analysts have commented on the stock. HSBC decreased their target price on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Evercore ISI decreased their target price on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. BTIG Research reduced their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $96.43.

Starbucks Trading Up 1.4 %

The company has a market capitalization of $83.25 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97. The firm has a 50-day simple moving average of $88.03 and a two-hundred day simple moving average of $93.53.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks Co. will post 3.63 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is 62.81%.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Starbucks

Several hedge funds have recently modified their holdings of SBUX. NBT Bank N A NY lifted its position in Starbucks by 185.3% in the third quarter. NBT Bank N A NY now owns 18,193 shares of the coffee company’s stock worth $1,660,000 after purchasing an additional 11,817 shares during the period. Chicago Partners Investment Group LLC increased its stake in Starbucks by 3.0% in the third quarter. Chicago Partners Investment Group LLC now owns 17,123 shares of the coffee company’s stock valued at $1,613,000 after acquiring an additional 492 shares during the period. Conning Inc. raised its position in Starbucks by 2.0% in the third quarter. Conning Inc. now owns 345,504 shares of the coffee company’s stock worth $31,480,000 after purchasing an additional 6,744 shares in the last quarter. Gratus Capital LLC lifted its stake in Starbucks by 9.3% during the third quarter. Gratus Capital LLC now owns 4,282 shares of the coffee company’s stock worth $391,000 after purchasing an additional 365 shares during the period. Finally, AustralianSuper Pty Ltd boosted its holdings in Starbucks by 4.0% during the third quarter. AustralianSuper Pty Ltd now owns 47,915 shares of the coffee company’s stock valued at $4,373,000 after purchasing an additional 1,864 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

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.