Starbucks (NASDAQ:SBUX) Shares Down 0.9%

Starbucks Co. (NASDAQ:SBUX) shares traded down 0.9% during mid-day trading on Tuesday . The company 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 Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group began coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and upped their target price for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research report on Wednesday, August 21st. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the stock 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.12.

Starbucks Price Performance

The stock has a market capitalization of $110.89 billion, a P/E ratio of 26.61, a PEG ratio of 2.26 and a beta of 0.96. The stock’s 50-day simple moving average is $89.16 and its 200 day simple moving average is $84.19.

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

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Institutional Trading of Starbucks

Institutional investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the second quarter worth about $25,000. Vima LLC bought a new stake in shares of Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $26,000. New Millennium Group LLC bought a new position in Starbucks in the second quarter valued at approximately $26,000. Finally, Stephens Consulting LLC raised its position in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. 72.29% of the stock is currently owned by 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.