Starbucks (NASDAQ:SBUX) Stock Price Down 0.6% – Time to Sell?

by · The Cerbat Gem

Starbucks Co. (NASDAQ:SBUX – Get Free Report)’s share price dropped 0.6% during mid-day trading on Monday . The company traded as low as $94.56 and last traded at $94.99. Approximately 669,760 shares were traded during trading, a decline of 94% from the average daily volume of 11,488,686 shares. The stock had previously closed at $95.55.

Analyst Ratings Changes

SBUX has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Wedbush reissued a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. Morgan Stanley boosted their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their price target for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, TD Cowen reissued a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $101.84.

View Our Latest Analysis on SBUX

Starbucks Stock Up 0.4 %

The firm has a market capitalization of $108.13 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 2.06 and a beta of 0.97. The company has a fifty day moving average price of $93.67 and a two-hundred day moving average price of $84.54.

Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the company earned $1.00 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks in the second quarter valued at $25,000. Scarborough Advisors LLC purchased a new stake in Starbucks during the 4th quarter worth about $26,000. New Millennium Group LLC purchased a new stake in Starbucks during the 2nd quarter worth about $26,000. Stephens Consulting LLC increased its position in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Starbucks during the 2nd quarter worth about $27,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Company Profile

(Get Free Report)

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.

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