Starbucks (NASDAQ:SBUX) Shares Up 0.9%

Starbucks Co. (NASDAQ:SBUX) shot 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 Analyst Weigh In

A number of research firms have recently weighed in on SBUX. Wells Fargo & Company reissued an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a report on Monday, April 1st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Robert W. Baird dropped their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Morgan Stanley dropped their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $106.55.

Starbucks Price Performance

The stock has a market cap of $99.92 billion, a PE ratio of 23.60, a P/E/G ratio of 1.48 and a beta of 0.97. The business has a fifty day moving average of $90.36 and a 200 day moving average of $94.28.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business 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%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. On average, equities research analysts expect that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

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

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 7,250 shares of company stock valued at $651,738 in the last quarter. Insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Conning Inc. lifted its holdings in Starbucks by 23.7% during the 1st quarter. Conning Inc. now owns 392,014 shares of the coffee company’s stock worth $35,752,000 after buying an additional 75,006 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in Starbucks by 1.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 238,642 shares of the coffee company’s stock worth $21,809,000 after buying an additional 2,357 shares during the last quarter. Harrington Investments INC raised its position in shares of Starbucks by 1.6% during the 1st quarter. Harrington Investments INC now owns 36,878 shares of the coffee company’s stock worth $3,370,000 after purchasing an additional 588 shares during the period. Narwhal Capital Management raised its position in shares of Starbucks by 12.6% during the 1st quarter. Narwhal Capital Management now owns 31,596 shares of the coffee company’s stock worth $2,888,000 after purchasing an additional 3,527 shares during the period. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Starbucks during the 1st quarter worth approximately $96,000. Institutional investors 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.