Starbucks (NASDAQ:SBUX) Shares Down 0.2%

Starbucks Co. (NASDAQ:SBUX) shares were down 0.2% during trading on Monday . The stock traded as low as $96.76 and last traded at $97.14. Approximately 703,757 shares traded hands during trading, a decline of 94% from the average daily volume of 11,780,577 shares. The stock had previously closed at $97.36.

Analysts Set New Price Targets

Several research firms recently commented on SBUX. 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 note on Tuesday, August 13th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Two equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.12.

Starbucks Stock Performance

The company has a 50 day moving average of $88.74 and a 200 day moving average of $84.15. The stock has a market capitalization of $109.52 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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 net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. As a group, research analysts expect that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost 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 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 hedge funds have recently modified their holdings of SBUX. Gryphon Financial Partners LLC grew its stake 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 valued at $508,000 after purchasing an additional 2,558 shares during the last quarter. Evoke Wealth LLC lifted its stake in shares of Starbucks by 1.6% in the 4th quarter. Evoke Wealth LLC now owns 10,201 shares of the coffee company’s stock worth $979,000 after acquiring an additional 164 shares during the period. Carolinas Wealth Consulting LLC boosted its holdings 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 in the last quarter. Jones Financial Companies Lllp raised its holdings in Starbucks by 1.4% during the fourth quarter. Jones Financial Companies Lllp now owns 86,412 shares of the coffee company’s stock worth $8,296,000 after purchasing an additional 1,167 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its position in Starbucks by 40.9% in the fourth quarter. CWA Asset Management Group LLC now owns 4,708 shares of the coffee company’s stock valued at $452,000 after purchasing an additional 1,367 shares during the period. 72.29% of the stock is currently owned by hedge funds and other 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.