Starbucks (NASDAQ:SBUX) Trading Down 2.1%

Starbucks Co. (NASDAQ:SBUX) shares dropped 2.1% during mid-day trading on Monday . The company traded as low as $96.23 and last traded at $96.47. Approximately 2,180,453 shares were traded during trading, a decline of 82% from the average daily volume of 11,920,076 shares. The stock had previously closed at $98.57.

Analyst Ratings Changes

SBUX has been the topic of a number of research reports. Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Wedbush reaffirmed a “neutral” rating and set a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. Jefferies Financial Group decreased their price target on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Bank of America increased their price target on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $100.08.

Starbucks Trading Down 0.3 %

The stock has a market capitalization of $108.92 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. The stock has a 50-day simple moving average of $85.30 and a 200 day simple moving average of $83.89.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the company posted $1.00 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Transactions at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred 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 directly owns 75,054 shares in the company, valued at $7,057,327.62. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its stake in shares of Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after acquiring an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. raised its stake in shares of Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after acquiring an additional 127 shares in the last quarter. Carolinas Wealth Consulting LLC increased its position in Starbucks by 4.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock worth $275,000 after buying an additional 133 shares during the period. Edge Capital Group LLC increased its position in Starbucks by 3.4% in the 4th quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after buying an additional 134 shares during the period. Finally, M&R Capital Management Inc. increased its position in Starbucks by 30.9% in the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after buying an additional 134 shares during the period. 72.29% of the stock is owned by 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.