Starbucks (NASDAQ:SBUX) Stock Price Up 2.3%

Starbucks Co. (NASDAQ:SBUX) shot up 2.3% during mid-day trading on Thursday . The stock traded as high as $75.24 and last traded at $75.22. 4,639,903 shares were traded during mid-day trading, a decline of 53% from the average session volume of 9,813,524 shares. The stock had previously closed at $73.50.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Evercore ISI decreased their target price on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. BMO Capital Markets cut their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, January 16th. William Blair downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Finally, Morgan Stanley reduced their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Seventeen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $96.43.

Starbucks Trading Up 3.0 %

The firm has a market capitalization of $85.72 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.58 and a beta of 0.97. The stock has a fifty day moving average of $87.64 and a 200-day moving average of $93.39.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS 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 firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the prior year, the company posted $0.74 earnings per share. Starbucks’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.01%. Starbucks’s dividend payout ratio is 62.81%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The shares were 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 directly 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 available at the SEC website. In the last quarter, insiders sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Starbucks

A number of institutional investors have recently made changes to their positions in the business. Brighton Jones LLC boosted its position in shares of Starbucks by 8.7% in the first quarter. Brighton Jones LLC now owns 148,302 shares of the coffee company’s stock valued at $13,553,000 after acquiring an additional 11,903 shares during the period. Leo Wealth LLC raised its position in shares of Starbucks by 11.2% during the first quarter. Leo Wealth LLC now owns 2,815 shares of the coffee company’s stock valued at $257,000 after buying an additional 283 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in Starbucks by 4.9% during the first quarter. Orion Portfolio Solutions LLC now owns 255,586 shares of the coffee company’s stock worth $23,358,000 after buying an additional 12,016 shares in the last quarter. HBK Sorce Advisory LLC increased its stake in Starbucks by 11.3% during the first quarter. HBK Sorce Advisory LLC now owns 9,507 shares of the coffee company’s stock valued at $869,000 after acquiring an additional 967 shares during the period. Finally, Kingsview Wealth Management LLC raised its holdings in Starbucks by 10.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 139,202 shares of the coffee company’s stock valued at $12,722,000 after acquiring an additional 13,540 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

About Starbucks

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.