Starbucks (NASDAQ:SBUX) Stock Price Down 0.2%

Starbucks Co. (NASDAQ:SBUX) dropped 0.2% during trading on Tuesday . The company traded as low as $73.73 and last traded at $74.40. Approximately 1,911,275 shares changed hands during trading, a decline of 81% from the average daily volume of 10,281,378 shares. The stock had previously closed at $74.57.

Analyst Ratings Changes

SBUX has been the topic of a number of recent analyst reports. William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Stifel Nicolaus lowered their price objective on Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. BTIG Research lowered their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Finally, Morgan Stanley lowered their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and an average target price of $94.46.

Starbucks Price Performance

The company has a market cap of $83.03 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.63 and a beta of 0.94. The company has a fifty day moving average price of $77.87 and a 200 day moving average price of $86.83.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. As a group, sell-side analysts predict that Starbucks Co. will post 3.58 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred 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 owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred 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 owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 10,750 shares of company stock valued at $878,893 over the last quarter. 1.98% of the stock is owned by corporate insiders.

Institutional Trading of Starbucks

Several hedge funds and other institutional investors have recently bought and sold shares of SBUX. Norges Bank bought a new position in shares of Starbucks during the fourth quarter valued at approximately $1,240,652,000. Ontario Teachers Pension Plan Board bought a new position in shares of Starbucks during the first quarter valued at approximately $415,167,000. Flossbach Von Storch AG raised its holdings 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 valued at $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Capital World Investors bought a new position in shares of Starbucks during the first quarter valued at approximately $257,721,000. Finally, Van ECK Associates Corp raised its holdings in shares of Starbucks by 2,624.3% during the first quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after acquiring an additional 2,071,378 shares in the last quarter. 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.