Starbucks (NASDAQ:SBUX) Shares Down 0.6%

Starbucks Co. (NASDAQ:SBUXGet Free Report)’s share price was down 0.6% during trading on Monday . The company traded as low as $75.51 and last traded at $75.60. Approximately 1,938,543 shares changed hands during trading, a decline of 81% from the average daily volume of 10,289,868 shares. The stock had previously closed at $76.05.

Analysts Set New Price Targets

A number of equities analysts recently commented on SBUX shares. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Wedbush restated a “neutral” rating and set a $81.00 target price on shares of Starbucks in a report on Friday, June 28th. Robert W. Baird decreased their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. TD Cowen restated a “hold” rating and set a $85.00 target price on shares of Starbucks in a report on Thursday, June 13th. Finally, Evercore ISI decreased their target price on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $94.46.

Check Out Our Latest Report on SBUX

Starbucks Stock Down 0.3 %

The firm has a fifty day moving average price of $77.91 and a two-hundred day moving average price of $86.93. The stock has a market capitalization of $82.13 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.63 and a beta of 0.94.

Starbucks (NASDAQ:SBUXGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. Starbucks’s quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts anticipate that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 3.14%. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was 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 directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was 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 directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Starbucks

A number of large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Starbucks during the 4th quarter valued at about $1,240,652,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Starbucks during the 1st quarter valued at about $415,167,000. Flossbach Von Storch AG lifted its position in shares of Starbucks by 106.7% during 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 buying an additional 2,897,282 shares in the last quarter. Capital World Investors purchased a new position in shares of Starbucks during the 1st quarter valued at about $257,721,000. Finally, Van ECK Associates Corp lifted its position in shares of Starbucks by 2,624.3% during the 1st quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after buying an additional 2,071,378 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

About Starbucks

(Get Free Report)

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.

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