Starbucks (NASDAQ:SBUX) Shares Down 0.1% – Time to Sell?

Starbucks Co. (NASDAQ:SBUX) shares were down 0.1% during mid-day trading on Wednesday . The company traded as low as $94.34 and last traded at $94.97. Approximately 1,157,478 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 11,428,181 shares. The stock had previously closed at $95.04.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SBUX shares. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. BTIG Research lifted their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lifted their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.44.

Starbucks Price Performance

The company’s 50-day simple moving average is $94.47 and its two-hundred day simple moving average is $84.69. The firm has a market capitalization of $109.69 billion, a P/E ratio of 26.30, a P/E/G ratio of 2.08 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its earnings results 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 company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the firm earned $1.00 EPS. Starbucks’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The stock was 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 $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Starbucks

Several hedge funds have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the 2nd quarter worth $25,000. New Millennium Group LLC bought a new stake in shares of Starbucks in the second quarter worth about $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Starbucks during the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC purchased a new position in Starbucks during the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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.