Starbucks (NASDAQ:SBUX) Stock Price Down 1.4%

Starbucks Co. (NASDAQ:SBUX)’s share price dropped 1.4% on Monday . The stock traded as low as $94.35 and last traded at $94.75. Approximately 1,470,317 shares changed hands during trading, a decline of 88% from the average daily volume of 11,878,120 shares. The stock had previously closed at $96.05.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent analyst reports. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Barclays increased their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. The Goldman Sachs Group started coverage on shares of Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price target on the stock. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have given 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, the company currently has an average rating of “Moderate Buy” and an average target price of $100.08.

Starbucks Stock Down 1.1 %

The company has a market cap of $107.60 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.31 and a beta of 0.96. The firm has a 50 day moving average price of $86.67 and a two-hundred day moving average price of $83.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the firm posted $1.00 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Starbucks

Several hedge funds have recently made changes to their positions in SBUX. Scarborough Advisors LLC acquired a new position in Starbucks in the 4th quarter valued at $26,000. Vima LLC purchased a new stake in Starbucks during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at $27,000. Fairman Group LLC acquired a new stake in Starbucks in the 4th quarter valued at about $30,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the second quarter valued at approximately $25,000. 72.29% of the stock is 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.