Starbucks (NASDAQ:SBUX) Shares Down 0.7%

Starbucks Co. (NASDAQ:SBUX) fell 0.7% during mid-day trading on Tuesday . The company traded as low as $95.20 and last traded at $95.62. 1,763,029 shares were traded during trading, a decline of 85% from the average session volume of 11,901,098 shares. The stock had previously closed at $96.31.

Analyst Ratings Changes

A number of equities analysts have issued reports on SBUX shares. Jefferies Financial Group cut their price target on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price objective on shares of Starbucks in a report on Wednesday, July 31st. Finally, Bank of America increased their target price on shares of Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $100.08.

Starbucks Stock Performance

The company’s 50-day simple moving average is $85.77 and its two-hundred day simple moving average is $83.98. The firm has a market cap of $109.76 billion, a PE ratio of 26.69, a PEG ratio of 2.38 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the firm earned $1.00 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts expect that Starbucks Co. will post 3.56 EPS for the current year.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gryphon Financial Partners LLC raised its position in shares of Starbucks by 96.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after purchasing an additional 2,558 shares during the last quarter. TrinityPoint Wealth LLC bought a new stake in Starbucks during the 4th quarter valued at about $230,000. Hillsdale Investment Management Inc. raised its holdings in Starbucks by 5.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 3,269 shares of the coffee company’s stock worth $314,000 after buying an additional 180 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Starbucks by 14.5% in the fourth quarter. Assetmark Inc. now owns 95,372 shares of the coffee company’s stock worth $9,157,000 after buying an additional 12,089 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Starbucks by 2.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 12,697 shares of the coffee company’s stock valued at $1,219,000 after buying an additional 324 shares during the last quarter. 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.