Starbucks (NASDAQ:SBUX) Shares Down 0.7%

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Citigroup upped their price target on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Finally, Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have given 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.08.

Starbucks Stock Up 0.8 %

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

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

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was 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 in the company, valued at approximately $7,057,327.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of institutional investors and hedge funds have recently modified their holdings of the business. Verity & Verity LLC raised its holdings in shares of Starbucks by 4.5% during the second quarter. Verity & Verity LLC now owns 131,308 shares of the coffee company’s stock valued at $10,222,000 after purchasing an additional 5,658 shares during the period. Lazari Capital Management Inc. raised its stake in Starbucks by 13.0% during the 2nd quarter. Lazari Capital Management Inc. now owns 17,738 shares of the coffee company’s stock worth $1,381,000 after buying an additional 2,044 shares during the period. Sanctuary Advisors LLC acquired a new position in Starbucks during the 2nd quarter worth approximately $18,704,000. Coronation Fund Managers Ltd. bought a new position in Starbucks in the second quarter worth approximately $2,043,000. Finally, Creekside Partners acquired a new stake in Starbucks in the second quarter valued at approximately $357,000. 72.29% of the stock is currently owned by institutional investors.

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.