Starbucks (NASDAQ:SBUX) Stock Price Down 0.6%

Starbucks Co. (NASDAQ:SBUX) traded down 0.6% during trading on Friday . The company traded as low as $96.13 and last traded at $96.35. 2,402,432 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 11,841,138 shares. The stock had previously closed at $96.90.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price objective on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Wedbush reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research report on Tuesday, August 13th. Finally, Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.08.

Starbucks Stock Down 0.7 %

The firm has a 50 day moving average price of $86.24 and a 200 day moving average price of $84.07. The stock has a market cap of $109.06 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.31 and a beta of 0.96.

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

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred 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 completion of the transaction, 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 document filed with the SEC, which is available through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Starbucks

A number of institutional investors and hedge funds have recently modified their holdings of SBUX. Gryphon Financial Partners LLC boosted its holdings 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 period. TrinityPoint Wealth LLC bought a new stake in shares of Starbucks during the 4th quarter worth approximately $230,000. Assetmark Inc. lifted its stake in shares of Starbucks by 14.5% during the 4th quarter. Assetmark Inc. now owns 95,372 shares of the coffee company’s stock worth $9,157,000 after acquiring an additional 12,089 shares during the last quarter. Sand Hill Global Advisors LLC lifted its stake in shares of Starbucks by 34.3% during the 4th quarter. Sand Hill Global Advisors LLC now owns 4,560 shares of the coffee company’s stock worth $438,000 after acquiring an additional 1,165 shares during the last quarter. Finally, Union Savings Bank lifted its stake in shares of Starbucks by 10.4% during the 4th quarter. Union Savings Bank now owns 1,954 shares of the coffee company’s stock worth $188,000 after acquiring an additional 184 shares during the last quarter. Hedge funds and other 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.