Starbucks (NASDAQ:SBUX) Stock Price Up 0.9%

Starbucks Co. (NASDAQ:SBUX)’s share price traded up 0.9% on Friday . The company traded as high as $88.79 and last traded at $88.66. 1,764,651 shares were traded during mid-day trading, a decline of 79% from the average session volume of 8,306,940 shares. The stock had previously closed at $87.84.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SBUX shares. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Tuesday, January 16th. Piper Sandler decreased 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. 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 report on Thursday, April 11th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Finally, Barclays lowered their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $106.55.

Starbucks Stock Up 0.5 %

The company has a 50 day moving average of $90.46 and a 200 day moving average of $94.30. The stock has a market capitalization of $99.92 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97.

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

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Insiders Place Their Bets

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 7,250 shares of company stock worth $651,738 over the last ninety days. 1.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Starbucks

A number of institutional investors and hedge funds have recently bought and sold shares of SBUX. Vima LLC purchased a new position in Starbucks in the 4th quarter valued at about $26,000. Scarborough Advisors LLC purchased a new position in Starbucks in the fourth quarter valued at about $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks during the 4th quarter valued at approximately $27,000. Riggs Asset Managment Co. Inc. grew its stake in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Fairman Group LLC purchased a new stake in Starbucks during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors 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.