Starbucks (NASDAQ:SBUX) Shares Up 1.7%

Shares of Starbucks Co. (NASDAQ:SBUX) traded up 1.7% on Thursday . The stock traded as high as $99.06 and last traded at $97.28. 3,170,098 shares traded hands during trading, a decline of 73% from the average session volume of 11,833,431 shares. The stock had previously closed at $95.62.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SBUX. Citigroup upped their price target on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. BMO Capital Markets raised their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. dropped their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.52.

Starbucks Trading Up 2.0 %

The firm has a market cap of $110.49 billion, a PE ratio of 26.80, a PEG ratio of 2.29 and a beta of 0.96. The firm has a fifty day simple moving average of $87.91 and a two-hundred day simple moving average of $84.13.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting 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 analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the 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 completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

A number of institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Starbucks by 19.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 215,988 shares of the coffee company’s stock worth $16,815,000 after purchasing an additional 34,498 shares in the last quarter. Verity & Verity LLC raised its holdings in Starbucks by 4.5% in the second quarter. Verity & Verity LLC now owns 131,308 shares of the coffee company’s stock worth $10,222,000 after buying an additional 5,658 shares during the last quarter. Lazari Capital Management Inc. lifted its stake in shares of Starbucks by 13.0% in the second quarter. Lazari Capital Management Inc. now owns 17,738 shares of the coffee company’s stock worth $1,381,000 after buying an additional 2,044 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Starbucks during the second quarter valued at approximately $18,704,000. Finally, Coronation Fund Managers Ltd. bought a new stake in shares of Starbucks during the second quarter valued at approximately $2,043,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

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.