Starbucks Co. (NASDAQ:SBUX) CEO Michael Aaron Conway Sells 3,250 Shares

Starbucks Co. (NASDAQ:SBUX) CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a filing with the SEC, which is available at this link.

Michael Aaron Conway also recently made the following trade(s):

• On Monday, April 15th, Michael Aaron Conway sold 3,250 shares of Starbucks stock. The stock was sold at an average price of $85.39, for a total value of $277,517.50.

Starbucks Trading Down 1.4 %

Shares of SBUX stock opened at $80.20 on Wednesday. The stock has a 50 day moving average of $80.73 and a two-hundred day moving average of $88.95. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $107.66. The company has a market capitalization of $90.84 billion, a P/E ratio of 22.09, a P/E/G ratio of 1.78 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the prior year, the business posted $0.74 EPS. Starbucks’s revenue was down 1.8% compared to the same quarter last year. Sell-side analysts predict that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of recent research reports. BTIG Research lowered their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft cut Starbucks from a “buy” rating to a “hold” rating and decreased their price target for the stock from $108.00 to $89.00 in a research note on Wednesday, May 1st. Jefferies Financial Group decreased their price target on Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Stifel Nicolaus decreased their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Finally, Piper Sandler decreased their price target on Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.00.

Institutional Trading of Starbucks

Hedge funds have recently modified their holdings of the company. Vima LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. Riggs Asset Managment Co. Inc. lifted its position in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the period. Finally, Fairman Group LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $30,000. Institutional investors own 72.29% of the company’s stock.

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.