Starbucks (NASDAQ:SBUX) Shares Down 0.9%

Shares of Starbucks Co. (NASDAQ:SBUX) traded down 0.9% on Tuesday . The stock traded as low as $96.35 and last traded at $96.61. 1,627,463 shares traded hands during trading, a decline of 86% from the average session volume of 11,757,202 shares. The stock had previously closed at $97.49.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SBUX shares. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. BMO Capital Markets lifted their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Thursday, September 12th. Finally, Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and dropped their price target for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

Starbucks Stock Up 0.4 %

The stock has a market capitalization of $110.89 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The company has a 50 day simple moving average of $89.16 and a 200-day simple moving average of $84.19.

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 the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. Starbucks’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $94.03, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 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 currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the 2nd quarter worth approximately $25,000. Vima LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. New Millennium Group LLC bought a new stake in Starbucks during the second quarter worth $26,000. Finally, Stephens Consulting LLC boosted its position in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the last quarter. 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.