Starbucks (NASDAQ:SBUX) Shares Up 0.9%

Starbucks Co. (NASDAQ:SBUX) shares shot up 0.9% during mid-day trading on Friday . The company traded as high as $88.79 and last traded at $88.66. 1,764,651 shares changed 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 Upgrades and Downgrades

A number of research firms recently issued reports on SBUX. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Tuesday, January 16th. BTIG Research reduced their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. reduced their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $106.55.

Starbucks Price Performance

The stock has a market capitalization of $99.92 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97. The firm has a 50 day moving average of $90.36 and a 200-day moving average of $94.28.

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

Starbucks Dividend Announcement

The company also recently declared 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. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.58%. Starbucks’s dividend payout ratio is 60.96%.

Insider Activity

In other 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 value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety 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

Several large investors have recently modified their holdings of SBUX. Cerity Partners LLC boosted its holdings in shares of Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after acquiring an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC boosted its holdings in shares of Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after acquiring an additional 7,619 shares in the last quarter. Tyche Wealth Partners LLC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $794,000. Insigneo Advisory Services LLC boosted its holdings in shares of Starbucks by 60.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after acquiring an additional 3,570 shares in the last quarter. Finally, Mountain Pacific Investment Advisers Inc. ID acquired a new position in shares of Starbucks in the 4th quarter worth approximately $201,000. 72.29% of the stock is currently owned by 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.