Starbucks (NASDAQ:SBUX) Trading Up 21%

Shares of Starbucks Co. (NASDAQ:SBUX) shot up 21% on Tuesday . The stock traded as high as $95.29 and last traded at $93.19. 86,947,305 shares were traded during trading, an increase of 671% from the average session volume of 11,272,482 shares. The stock had previously closed at $77.03.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBUX. William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Stifel Nicolaus reduced their price objective on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. BTIG Research dropped their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Barclays dropped their target price on Starbucks from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Fourteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Starbucks presently has an average rating of “Hold” and a consensus target price of $93.04.

Starbucks Stock Up 24.5 %

The company has a market cap of $108.63 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94. The stock has a 50 day moving average price of $77.18 and a two-hundred day moving average price of $83.82.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 earnings per share. Equities analysts anticipate that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared 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. This represents a $2.28 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the 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 $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’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. Insiders have sold 7,250 shares of company stock valued at $579,375 over the last 90 days. 1.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Starbucks

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after purchasing an additional 470,498 shares in the last quarter. Norges Bank acquired a new stake in shares of Starbucks in the 4th quarter valued at $1,240,652,000. Fisher Asset Management LLC boosted its holdings in shares of Starbucks by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after purchasing an additional 268,030 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Starbucks by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock valued at $948,093,000 after acquiring an additional 27,496 shares during the last quarter. Finally, Flossbach Von Storch AG lifted its stake in shares of Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares during 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.