Starbucks (NASDAQ:SBUX) Stock Price Down 0.7%

Starbucks Co. (NASDAQ:SBUX) traded down 0.7% on Tuesday . The stock traded as low as $95.20 and last traded at $95.62. 1,763,029 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 11,901,098 shares. The stock had previously closed at $96.31.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley restated an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. Wedbush reissued a “neutral” rating and set a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Finally, Bank of America lifted their price objective on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

Starbucks Trading Down 0.2 %

The firm has a market capitalization of $108.97 billion, a PE ratio of 26.49, a P/E/G ratio of 2.38 and a beta of 0.96. The company has a fifty day moving average price of $84.82 and a two-hundred day moving average price of $83.87.

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. The business 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 quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS. As a group, equities research analysts predict that Starbucks Co. will post 3.56 earnings per share for the current year.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’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 value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Starbucks

Several hedge funds have recently bought and sold shares of SBUX. Ontario Teachers Pension Plan Board acquired a new stake in shares of Starbucks during the first quarter worth $415,167,000. Marshall Wace LLP raised its position in shares of Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in shares of Starbucks in the 2nd quarter worth $243,910,000. Flossbach Von Storch AG raised its position in shares of Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares during the period. Finally, Capital World Investors purchased a new position in shares of Starbucks in the 1st quarter worth $257,721,000. 72.29% of the stock is 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.