Starbucks (NASDAQ:SBUX) Stock Price Down 0.8%

Shares of Starbucks Co. (NASDAQ:SBUX) dropped 0.8% during mid-day trading on Friday . The company traded as low as $74.94 and last traded at $75.12. Approximately 924,299 shares traded hands during trading, a decline of 91% from the average daily volume of 10,775,147 shares. The stock had previously closed at $75.75.

Analyst Ratings Changes

SBUX has been the subject of a number of recent analyst reports. UBS Group decreased their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. BTIG Research decreased their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Barclays decreased their price target on shares of Starbucks from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Citigroup decreased their price target on shares of Starbucks from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Finally, Morgan Stanley restated an “overweight” rating and set a $98.00 price target on shares of Starbucks in a report on Wednesday, July 31st. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus price target of $90.88.

Starbucks Stock Down 0.9 %

The company has a market cap of $85.07 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.76 and a beta of 0.94. The company’s fifty day moving average price is $77.38 and its two-hundred day moving average price is $84.17.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.00 earnings per share. Research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Announces Dividend

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 issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred 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 owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders sold a total of 7,250 shares of company stock valued at $579,375 over the last quarter. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of hedge funds and other institutional investors have recently made changes to their positions in SBUX. Norges Bank bought a new position in shares of Starbucks during the fourth quarter worth $1,240,652,000. Ontario Teachers Pension Plan Board bought a new position in shares of Starbucks during the first quarter worth $415,167,000. Diamond Hill Capital Management Inc. bought a new position in shares of Starbucks during the second quarter worth $243,910,000. Flossbach Von Storch AG boosted its position in shares of Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares in the last quarter. Finally, Capital World Investors bought a new position in shares of Starbucks during the first quarter worth $257,721,000. 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.