Starbucks (NASDAQ:SBUX) Shares Down 0.4%

Starbucks Co. (NASDAQ:SBUX) shares were down 0.4% on Thursday . The company traded as low as $74.73 and last traded at $74.82. Approximately 2,653,931 shares changed hands during trading, a decline of 73% from the average daily volume of 9,965,480 shares. The stock had previously closed at $75.13.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SBUX shares. Stifel Nicolaus reduced their target price on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. TD Cowen decreased their target price on Starbucks from $100.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Evercore ISI cut their price target on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets decreased their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. Finally, Piper Sandler cut their price objective on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $96.43.

Starbucks Stock Up 3.4 %

The stock’s 50-day simple moving average is $85.38 and its two-hundred day simple moving average is $92.55. The company has a market capitalization of $88.18 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.62 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts forecast that Starbucks Co. will post 3.63 EPS for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 4,000 shares of company stock valued at $346,140. 1.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Starbucks

Large investors have recently made changes to their positions in the stock. Vima LLC acquired a new stake in shares of Starbucks in the 4th quarter worth $26,000. Scarborough Advisors LLC acquired a new position in Starbucks in the 4th quarter valued at about $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $27,000. Riggs Asset Managment Co. Inc. raised its position in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after buying an additional 300 shares during the period. Finally, Fairman Group LLC acquired a new position in Starbucks in the fourth quarter valued at approximately $30,000. 72.29% of the stock is currently owned by hedge funds and other 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.