Starbucks (NASDAQ:SBUX) Shares Down 0.4%

Starbucks Co. (NASDAQ:SBUX - Get Free Report) shares dropped 0.4% during mid-day trading on Friday . The stock traded as low as $98.53 and last traded at $98.85. Approximately 2,157,758 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 11,931,362 shares. The stock had previously closed at $99.28.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent research reports. BMO Capital Markets boosted their price target on Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday. The Goldman Sachs Group began coverage on Starbucks in a research report on Thursday, June 13th. They set a "buy" rating and a $100.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a "hold" rating to a "buy" rating and upped their target price for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Jefferies Financial Group cut their target price on Starbucks from $84.00 to $80.00 and set a "hold" rating for the company in a research report on Wednesday, July 31st. Finally, TD Cowen reiterated a "buy" rating and set a $110.00 target price on shares of Starbucks in a research report on Thursday. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.83.

Starbucks Stock Performance

The firm has a market cap of $111.70 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 2.35 and a beta of 0.96. The business has a fifty day simple moving average of $84.39 and a 200-day simple moving average of $83.99.

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

Insider Transactions at Starbucks

In other news, 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 of the company's stock, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Starbucks news, 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 transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm'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 sale, the chief executive officer now directly owns 75,054 shares of the company's stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Starbucks

Large investors have recently made changes to their positions in the company. Cox Capital Mgt LLC grew its stake in shares of Starbucks by 41.9% in the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company's stock valued at $4,142,000 after buying an additional 13,372 shares during the period. Brevan Howard Capital Management LP acquired a new stake in shares of Starbucks in the 4th quarter valued at about $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new position in Starbucks during the 4th quarter valued at about $31,246,000. Fidelis Capital Partners LLC boosted its stake in Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company's stock valued at $1,016,000 after purchasing an additional 1,751 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC acquired a new position in Starbucks during the 4th quarter valued at about $4,048,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.