Starbucks (NASDAQ:SBUX) Trading Down 0.1% – Here’s What Happened

Shares of Starbucks Co. (NASDAQ:SBUX) traded down 0.1% during trading on Friday . The stock traded as low as $95.15 and last traded at $95.49. 1,191,726 shares were traded during mid-day trading, a decline of 90% from the average session volume of 11,670,568 shares. The stock had previously closed at $95.56.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.12.

Starbucks Trading Up 0.4 %

The firm has a market capitalization of $108.67 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. The firm has a 50-day moving average of $90.46 and a two-hundred day moving average of $84.40.

Starbucks (NASDAQ:SBUX) last posted its 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 analyst estimates of $9.25 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on 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 owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

A number of institutional investors and hedge funds have recently made changes to their positions in SBUX. Cox Capital Mgt LLC lifted its stake in Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after buying an additional 13,372 shares during the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new position in shares of Starbucks during the fourth quarter worth approximately $31,246,000. Fidelis Capital Partners LLC grew its holdings in Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares in the last quarter. Finally, TKG Advisors LLC raised its stake in Starbucks by 4.6% during the 4th quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock valued at $1,873,000 after acquiring an additional 860 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.