Starbucks (NASDAQ:SBUX) Stock Price Down 2.1%

Shares of Starbucks Co. (NASDAQ:SBUX) dropped 2.1% during trading on Monday . The company traded as low as $96.23 and last traded at $96.47. Approximately 2,180,453 shares were traded during trading, a decline of 82% from the average daily volume of 11,920,076 shares. The stock had previously closed at $98.57.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SBUX shares. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday, August 21st. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Citigroup boosted their price objective on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

Starbucks Price Performance

The stock’s 50 day moving average is $84.39 and its two-hundred day moving average is $83.86. The firm has a market capitalization of $109.16 billion, a P/E ratio of 26.58, a P/E/G ratio of 2.38 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last released 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 net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the business earned $1.00 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts expect 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 business’s 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 directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated 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 owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the 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 sale, 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. 1.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SBUX. Gryphon Financial Partners LLC boosted its stake in Starbucks by 96.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock valued at $508,000 after buying an additional 2,558 shares in the last quarter. Level Four Advisory Services LLC boosted its stake in shares of Starbucks by 14.8% in the 4th quarter. Level Four Advisory Services LLC now owns 10,080 shares of the coffee company’s stock valued at $968,000 after purchasing an additional 1,299 shares in the last quarter. TrinityPoint Wealth LLC bought a new stake in shares of Starbucks during the 4th quarter valued at approximately $230,000. Norges Bank acquired a new position in Starbucks during the 4th quarter worth approximately $1,240,652,000. Finally, Hillsdale Investment Management Inc. lifted its stake in Starbucks by 5.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 3,269 shares of the coffee company’s stock valued at $314,000 after purchasing an additional 180 shares during the last quarter. 72.29% of the stock is owned by 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.