Starbucks (NASDAQ:SBUX) Shares Down 0.7%

Starbucks Co. (NASDAQ:SBUX) shares traded down 0.7% during trading on Tuesday . The company traded as low as $91.15 and last traded at $91.54. 1,217,664 shares changed hands during trading, a decline of 90% from the average session volume of 11,894,383 shares. The stock had previously closed at $92.21.

Wall Street Analyst Weigh In

SBUX has been the topic of several analyst reports. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research note on Wednesday, August 21st. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group cut their target price on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $99.83.

Starbucks Stock Performance

The stock’s 50 day moving average price is $82.71 and its 200 day moving average price is $83.77. The company has a market capitalization of $105.41 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 2.18 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for 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 firm’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. On average, analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Transactions at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders have sold 9,790 shares of company stock valued at $865,514 in the last 90 days. 1.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Starbucks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC grew its stake in shares of Starbucks by 96.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after acquiring an additional 2,558 shares during the period. Checchi Capital Advisers LLC grew its stake in Starbucks by 4.1% in the 4th quarter. Checchi Capital Advisers LLC now owns 16,058 shares of the coffee company’s stock valued at $1,542,000 after buying an additional 633 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in Starbucks by 0.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 56,051 shares of the coffee company’s stock valued at $5,382,000 after acquiring an additional 464 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Starbucks by 24.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,473,015 shares of the coffee company’s stock worth $429,454,000 after acquiring an additional 868,342 shares in the last quarter. Finally, Advisor OS LLC boosted its holdings in shares of Starbucks by 47.8% in the fourth quarter. Advisor OS LLC now owns 5,033 shares of the coffee company’s stock worth $483,000 after acquiring an additional 1,628 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Company Profile

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.