Starbucks (NASDAQ:SBUX) Stock Price Up 0.9%

Starbucks Co. (NASDAQ:SBUX - Get Free Report)'s stock price shot up 0.9% during mid-day trading on Friday . The stock traded as high as $88.79 and last traded at $88.66. 1,764,651 shares traded hands during trading, a decline of 79% from the average session volume of 8,306,940 shares. The stock had previously closed at $87.84.

Analyst Ratings Changes

SBUX has been the topic of several recent research reports. Wedbush decreased their price objective on Starbucks from $95.00 to $92.00 and set a "neutral" rating on the stock in a research note on Friday. Gordon Haskett downgraded shares of Starbucks from a "buy" rating to a "hold" rating and set a $100.00 price objective on the stock. in a research report on Tuesday, January 16th. TD Cowen restated a "hold" rating and set a $100.00 target price on shares of Starbucks in a research note on Thursday, April 11th. 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. Finally, Barclays dropped their price objective on Starbucks from $116.00 to $112.00 and set an "overweight" rating for the company in a research note on Wednesday, January 31st. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of "Hold" and an average target price of $106.55.

Starbucks Stock Up 0.5 %

The business has a 50 day simple moving average of $90.46 and a two-hundred day simple moving average of $94.30. The firm has a market cap of $99.92 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. Starbucks's revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Thursday, May 16th. Starbucks's dividend payout ratio is 60.96%.

Insider Activity

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 7,250 shares of company stock worth $651,738. Company insiders own 1.98% of the company's stock.

Institutional Investors Weigh In On Starbucks

A number of hedge funds have recently made changes to their positions in SBUX. CX Institutional grew its holdings in Starbucks by 298.7% in the third quarter. CX Institutional now owns 38,472 shares of the coffee company's stock worth $3,511,000 after purchasing an additional 28,822 shares during the last quarter. Secure Asset Management LLC increased its position in Starbucks by 32.0% during the 3rd quarter. Secure Asset Management LLC now owns 3,248 shares of the coffee company's stock valued at $296,000 after buying an additional 787 shares in the last quarter. Stewart & Patten Co. LLC raised its stake in Starbucks by 5.1% in the third quarter. Stewart & Patten Co. LLC now owns 108,192 shares of the coffee company's stock valued at $9,875,000 after buying an additional 5,265 shares during the last quarter. Verity & Verity LLC boosted its holdings in Starbucks by 1.3% in the third quarter. Verity & Verity LLC now owns 88,897 shares of the coffee company's stock worth $8,334,000 after acquiring an additional 1,175 shares in the last quarter. Finally, Roof Eidam Maycock Peralta LLC grew its stake in shares of Starbucks by 5.6% during the third quarter. Roof Eidam Maycock Peralta LLC now owns 4,912 shares of the coffee company's stock worth $448,000 after acquiring an additional 262 shares during the last quarter. 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.

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