Starbucks (NASDAQ:SBUX) Shares Down 0.2% – Here’s What Happened

Starbucks Co. (NASDAQ:SBUX)’s share price was down 0.2% during mid-day trading on Monday . The stock traded as low as $95.85 and last traded at $96.39. Approximately 1,386,632 shares were traded during trading, a decline of 88% from the average daily volume of 11,646,443 shares. The stock had previously closed at $96.58.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research note on Wednesday, July 31st. Citigroup boosted their price objective on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, Barclays boosted their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.12.

Starbucks Stock Performance

The stock has a market cap of $108.18 billion, a PE ratio of 26.55, a P/E/G ratio of 2.12 and a beta of 0.97. The business has a 50 day moving average price of $90.91 and a two-hundred day moving average price of $84.33.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. As a group, research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Starbucks

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