Shares of Starbucks Co. (NASDAQ:SBUX - Get Free Report) traded up 0% during trading on Monday . The stock traded as high as $88.61 and last traded at $88.27. 2,153,955 shares were traded during trading, a decline of 74% from the average session volume of 8,296,929 shares. The stock had previously closed at $88.25.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. BTIG Research cut their price objective on shares of Starbucks from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, January 31st. JPMorgan Chase & Co. reduced their price objective on Starbucks from $107.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 19th. Morgan Stanley decreased their price objective on Starbucks from $120.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, April 12th. BMO Capital Markets dropped their target price on Starbucks from $125.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, January 31st. Finally, Jefferies Financial Group decreased their price target on Starbucks from $100.00 to $94.00 and set a "hold" rating on the stock in a research note on Tuesday, April 16th. Fourteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $106.55.
Get Our Latest Stock Report on SBUX
Starbucks Stock Performance
The stock has a market cap of $100.01 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. The firm has a 50-day moving average price of $90.36 and a 200-day moving average price of $94.30.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (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 firm had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the company posted $0.75 EPS. Starbucks's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts predict that Starbucks Co. will post 3.99 earnings per share for the current year.
Starbucks Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.58%. The ex-dividend date is Thursday, May 16th. Starbucks's payout ratio is currently 60.96%.
Insiders Place Their Bets
In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Starbucks
Several institutional investors and hedge funds have recently modified their holdings of SBUX. Vanguard Group Inc. increased its stake in Starbucks by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company's stock valued at $10,362,673,000 after purchasing an additional 1,041,622 shares in the last quarter. Northern Trust Corp increased its position in shares of Starbucks by 1.5% during the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company's stock valued at $1,388,924,000 after acquiring an additional 232,031 shares in the last quarter. Norges Bank purchased a new position in Starbucks in the 4th quarter worth approximately $1,240,652,000. Fisher Asset Management LLC lifted its position in Starbucks by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company's stock valued at $1,091,378,000 after acquiring an additional 268,030 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Starbucks by 11.8% during the 3rd quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company's stock valued at $962,144,000 after purchasing an additional 1,115,051 shares during 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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