Starbucks (NASDAQ:SBUX) Trading 2.1% Higher

Starbucks Co. (NASDAQ:SBUX - Get Free Report) shares shot up 2.1% during mid-day trading on Wednesday . The stock traded as high as $79.72 and last traded at $79.35. 4,608,264 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 10,032,291 shares. The stock had previously closed at $77.72.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SBUX shares. HSBC reduced their price target on Starbucks from $107.00 to $84.00 and set a "hold" rating for the company in a research report on Friday, May 3rd. TD Cowen reduced their price target on Starbucks from $100.00 to $85.00 and set a "hold" rating for the company in a research report on Wednesday, May 1st. Morgan Stanley reduced their price target on Starbucks from $120.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, April 12th. UBS Group reduced their price target on Starbucks from $95.00 to $85.00 and set a "neutral" rating for the company in a research report on Wednesday, May 1st. Finally, DZ Bank cut Starbucks from a "buy" rating to a "hold" rating and set a $75.00 price target for the company. in a research report on Friday, May 3rd. Seventeen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $96.43.

Starbucks Stock Performance

The business has a 50 day moving average price of $84.79 and a two-hundred day moving average price of $92.22. The company has a market cap of $91.43 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 1.67 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its 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 the consensus estimate of $9.12 billion. During the same period last year, the firm posted $0.74 EPS. The company's revenue was down 1.8% on a year-over-year basis. As a group, research analysts expect that Starbucks Co. will post 3.63 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared 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. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks's payout ratio is 62.81%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company'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 transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company's stock, valued at approximately $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 3,750 shares of company stock valued at $322,675 in the last 90 days. Insiders own 1.98% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vima LLC purchased a new stake in shares of Starbucks in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the 4th quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new stake in shares of Starbucks in the 4th quarter worth approximately $27,000. Riggs Asset Managment Co. Inc. grew its stake in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company's stock worth $29,000 after buying an additional 300 shares during the last quarter. Finally, Fairman Group LLC purchased a new stake in shares of Starbucks in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

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.