Starbucks (NASDAQ:SBUX) Stock Price Up 0.6% Following Insider Buying Activity

Starbucks Co. (NASDAQ:SBUX)’s stock price shot up 0.6% during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $97.35 and last traded at $97.04. 2,095,413 shares were traded during mid-day trading, a decline of 82% from the average session volume of 11,873,521 shares. The stock had previously closed at $96.44.

Specifically, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SBUX. JPMorgan Chase & Co. decreased their price objective on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Bank of America increased their price objective on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday. BMO Capital Markets boosted their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Wedbush reissued a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.08.

Starbucks Trading Up 0.8 %

The business’s fifty day moving average price is $86.24 and its 200 day moving average price is $84.07. The company has a market capitalization of $109.81 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.31 and a beta of 0.96.

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

Institutional Trading of Starbucks

Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc grew its holdings in shares of Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after purchasing an additional 122 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its holdings in shares of Starbucks by 2.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after buying an additional 127 shares in the last quarter. Carolinas Wealth Consulting LLC raised its stake in shares of Starbucks by 4.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after acquiring an additional 133 shares during the last quarter. Edge Capital Group LLC boosted its holdings in shares of Starbucks by 3.4% in the 4th quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after acquiring an additional 134 shares in the last quarter. Finally, M&R Capital Management Inc. grew its position in Starbucks by 30.9% during the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after acquiring an additional 134 shares during the last quarter. Institutional investors and hedge funds 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.