Starbucks (NASDAQ:SBUX) Trading Down 2.1%

Starbucks Co. (NASDAQ:SBUX) traded down 2.1% during trading on Monday . The stock traded as low as $96.23 and last traded at $96.47. 2,180,453 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 11,920,076 shares. The stock had previously closed at $98.57.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BMO Capital Markets lifted their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Citigroup lifted their price target on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Barclays lifted their price objective on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.08.

Starbucks Price Performance

The company has a market cap of $108.92 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. The business has a 50 day simple moving average of $85.30 and a 200 day simple moving average of $83.89.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBUX. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks in the first quarter worth about $415,167,000. Marshall Wace LLP boosted its position in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in shares of Starbucks during the second quarter worth about $243,910,000. Flossbach Von Storch AG boosted its position in shares of Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares during the period. Finally, Capital World Investors acquired a new position in shares of Starbucks during the first quarter worth about $257,721,000. 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.