Starbucks (NASDAQ:SBUX) Stock Price Down 3.4%

Starbucks Co. (NASDAQ:SBUX) shares traded down 3.4% on Wednesday . The stock traded as low as $114.33 and last traded at $114.77. 98,504 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 5,848,181 shares. The stock had previously closed at $118.86.

A number of research analysts have recently commented on SBUX shares. MKM Partners upped their price target on shares of Starbucks from $125.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 28th. Piper Sandler increased their target price on shares of Starbucks from $104.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, July 28th. Guggenheim initiated coverage on shares of Starbucks in a report on Monday, July 26th. They set a “neutral” rating and a $125.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Starbucks in a research report on Thursday, September 2nd. They set a “hold” rating and a $127.00 price target for the company. Finally, Wells Fargo & Company initiated coverage on shares of Starbucks in a research report on Sunday, June 20th. They set a “buy” rating for the company. Nine research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $126.15.

The stock has a fifty day moving average of $118.21 and a 200-day moving average of $114.01. The stock has a market capitalization of $134.38 billion, a price-to-earnings ratio of 49.73, a P/E/G ratio of 3.06 and a beta of 0.88.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Monday, July 26th. The coffee company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.23. Starbucks had a negative return on equity of 43.16% and a net margin of 10.43%. The company had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.26 billion. During the same quarter in the previous year, the business earned ($0.46) earnings per share. The firm’s revenue for the quarter was up 77.6% on a year-over-year basis. Equities analysts predict that Starbucks Co. will post 3.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Thursday, August 12th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Wednesday, August 11th. Starbucks’s dividend payout ratio (DPR) is presently 153.85%.

In related news, COO John Culver sold 148,619 shares of the stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $119.00, for a total transaction of $17,685,661.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin R. Johnson sold 359,177 shares of the stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $122.81, for a total value of $44,110,527.37. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in SBUX. Price T Rowe Associates Inc. MD raised its holdings in shares of Starbucks by 121.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,585,346 shares of the coffee company’s stock valued at $1,265,931,000 after buying an additional 6,350,284 shares during the period. Amundi acquired a new stake in Starbucks during the 2nd quarter valued at approximately $416,728,000. Winslow Capital Management LLC acquired a new position in shares of Starbucks in the 1st quarter worth approximately $358,133,000. Nuveen Asset Management LLC grew its position in shares of Starbucks by 22.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 7,255,973 shares of the coffee company’s stock worth $811,291,000 after acquiring an additional 1,324,776 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in shares of Starbucks by 85.4% in the 2nd quarter. Prudential Financial Inc. now owns 2,703,256 shares of the coffee company’s stock worth $302,250,000 after acquiring an additional 1,245,561 shares in the last quarter. Institutional investors own 68.27% of the company’s stock.

Starbucks Company Profile (NASDAQ:SBUX)

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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