Starbucks (NASDAQ:SBUX) Shares Down 0.6%

Starbucks Co. (NASDAQ:SBUX) fell 0.6% during mid-day trading on Thursday . The stock traded as low as $97.34 and last traded at $97.65. 3,216,834 shares changed hands during trading, a decline of 73% from the average session volume of 11,921,884 shares. The stock had previously closed at $98.20.

Analyst Ratings Changes

A number of research analysts have commented on SBUX shares. Wedbush reaffirmed a “neutral” rating and set a $80.00 target price on shares of Starbucks in a report on Tuesday, August 13th. BMO Capital Markets lifted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Bank of America raised their price target on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price objective on shares of Starbucks in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.83.

Starbucks Price Performance

The company has a fifty day moving average of $84.39 and a 200 day moving average of $83.99. The stock has a market cap of $111.70 billion, a P/E ratio of 27.15, a PEG ratio of 2.35 and a beta of 0.96.

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

Insider Activity

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the 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 transaction, the chief executive officer now 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 available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Hedge funds have recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $26,000. Vima LLC purchased a new position in Starbucks in the fourth quarter valued at about $26,000. DSM Capital Partners LLC acquired a new position in Starbucks in the 4th quarter worth about $27,000. Fairman Group LLC purchased a new stake in shares of Starbucks during the 4th quarter worth about $30,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the 2nd quarter worth about $25,000. 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.