Michael Aaron Conway Sells 3,250 Shares of Starbucks Co. (NASDAQ:SBUX) Stock

Starbucks Co. (NASDAQ:SBUX) CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Michael Aaron Conway also recently made the following trade(s):

• On Monday, April 15th, Michael Aaron Conway sold 3,250 shares of Starbucks stock. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50.

Starbucks Price Performance

Shares of SBUX stock opened at $80.20 on Thursday. The company has a market cap of $90.84 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.75 and a beta of 0.96. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66. The firm has a fifty day moving average price of $80.61 and a 200-day moving average price of $88.89.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. Starbucks’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. Equities research analysts expect that Starbucks Co. will post 3.59 EPS for the current year.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent research reports. William Blair downgraded Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. HSBC reduced their price target on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. TD Cowen reiterated a “hold” rating and issued a $85.00 price target on shares of Starbucks in a research note on Thursday, June 13th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Finally, UBS Group dropped their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $95.00.

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.