Starbucks (NASDAQ:SBUX) Shares Up 0.3%

Starbucks Co. (NASDAQ:SBUX) shares shot up 0.3% during trading on Friday . The company traded as high as $98.15 and last traded at $97.73. 1,490,598 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 11,812,343 shares. The stock had previously closed at $97.47.

Analysts Set New Price Targets

SBUX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $92.00 to $115.00 in a report on Thursday. TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Thursday, September 12th. JPMorgan Chase & Co. reduced their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $100.52.

Starbucks Trading Down 0.2 %

The company has a market capitalization of $110.26 billion, a P/E ratio of 26.92, a PEG ratio of 2.29 and a beta of 0.96. The stock has a 50 day moving average price of $88.38 and a 200 day moving average price of $84.22.

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, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts predict that Starbucks Co. will post 3.56 EPS for the current year.

Insider Transactions at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, 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 filing with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Starbucks

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after acquiring an additional 470,498 shares during the period. Fisher Asset Management LLC boosted its position in shares of Starbucks by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock worth $1,090,654,000 after purchasing an additional 260,489 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after buying an additional 221,718 shares during the period. Flossbach Von Storch AG increased its position in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in Starbucks by 5.2% during the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after buying an additional 266,570 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

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.