Starbucks (NASDAQ:SBUX) Trading Up 1.5%

Starbucks Co. (NASDAQ:SBUX - Get Free Report) was up 1.5% on Friday . The stock traded as high as $76.54 and last traded at $76.40. Approximately 2,937,000 shares traded hands during trading, a decline of 71% from the average daily volume of 9,976,019 shares. The stock had previously closed at $75.28.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SBUX shares. Oppenheimer reissued a "market perform" rating on shares of Starbucks in a report on Friday, April 19th. Royal Bank of Canada reissued a "sector perform" rating and set a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Stephens reaffirmed an "equal weight" rating and issued a $110.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Wedbush cut their price target on Starbucks from $95.00 to $92.00 and set a "neutral" rating for the company in a report on Friday, April 26th. Finally, UBS Group cut their price target on Starbucks from $95.00 to $85.00 and set a "neutral" rating for the company in a report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $96.43.

Starbucks Stock Up 3.4 %

The stock has a market cap of $88.18 billion, a PE ratio of 21.25, a P/E/G ratio of 1.63 and a beta of 0.97. The company has a fifty day moving average price of $85.64 and a 200 day moving average price of $92.65.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. As a group, research analysts predict that Starbucks Co. will post 3.63 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given 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 yield of 2.93%. Starbucks's payout ratio is 62.81%.

Insider Transactions at Starbucks

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

Hedge Funds Weigh In On Starbucks

Hedge funds have recently added to or reduced their stakes in the company. Orca Investment Management LLC raised its holdings in Starbucks by 6.6% in the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company's stock worth $719,000 after acquiring an additional 466 shares during the last quarter. Cerity Partners LLC raised its stake in Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company's stock valued at $148,567,000 after buying an additional 1,281,471 shares during the last quarter. Metis Global Partners LLC raised its stake in Starbucks by 15.4% during the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company's stock valued at $5,197,000 after buying an additional 7,619 shares during the last quarter. Summa Corp. purchased a new stake in Starbucks during the 4th quarter valued at $384,000. Finally, FFT Wealth Management LLC purchased a new stake in Starbucks during the 4th quarter valued at $209,000. 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.