Shares of Starbucks Co. (NASDAQ:SBUX – Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $90.13 and traded as high as $93.20. Starbucks shares last traded at $92.25, with a volume of 8,198,341 shares changing hands.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on SBUX. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group upped their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada started coverage on Starbucks in a research note on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target for the company. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.77.
View Our Latest Stock Report on Starbucks
Starbucks Price Performance
Starbucks (NASDAQ:SBUX – Get Free Report) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts expect that Starbucks Co. will post 3.11 EPS for the current fiscal year.
Starbucks Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.64%. Starbucks’s payout ratio is presently 73.72%.
Insider Activity at Starbucks
In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.98% of the stock is currently owned by company insiders.
Institutional Trading of Starbucks
Large investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter valued at about $25,000. DT Investment Partners LLC grew its holdings in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new stake in Starbucks during the 3rd quarter valued at $49,000. Friedenthal Financial purchased a new stake in Starbucks during the 3rd quarter valued at $50,000. Finally, Fairfield Financial Advisors LTD bought a new stake in Starbucks in the 2nd quarter worth $41,000. Institutional investors own 72.29% of the company’s stock.
About Starbucks
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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