Starbucks (NASDAQ:SBUX) Stock Price Down 0.6%

Starbucks Co. (NASDAQ:SBUX)’s share price traded down 0.6% on Thursday . The company traded as low as $95.31 and last traded at $95.91. 723,425 shares traded hands during trading, a decline of 94% from the average session volume of 11,700,129 shares. The stock had previously closed at $96.50.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SBUX shares. Citigroup lifted their target price on shares of Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Bank of America lifted their target price on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group began coverage on shares of Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.12.

Starbucks Stock Down 0.8 %

The business has a 50-day moving average price of $90.02 and a two-hundred day moving average price of $84.32. The company has a market cap of $108.38 billion, a P/E ratio of 26.42, a P/E/G ratio of 2.33 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 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 company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the company earned $1.00 EPS. Starbucks’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were 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 of the company’s stock, valued at approximately $7,057,327.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, 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 SEC, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the 2nd quarter valued at about $25,000. Vima LLC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new stake in shares of Starbucks during the 4th quarter worth approximately $26,000. New Millennium Group LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $26,000. Finally, Stephens Consulting LLC grew its stake in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.