Starbucks (NASDAQ:SBUX) Trading Down 0.4% – Time to Sell?

Starbucks Co. (NASDAQ:SBUX) was down 0.4% on Monday . The stock traded as low as $96.34 and last traded at $96.47. Approximately 746,776 shares were traded during trading, a decline of 93% from the average daily volume of 11,352,305 shares. The stock had previously closed at $96.84.

Analysts Set New Price Targets

A number of brokerages have issued reports on SBUX. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. Finally, Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.44.

Starbucks Trading Down 0.4 %

The firm’s 50-day moving average price is $94.90 and its 200 day moving average price is $84.67. The company has a market capitalization of $109.21 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 2.08 and a beta of 0.97.

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

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 directly owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Institutional Trading of Starbucks

Several hedge funds have recently bought and sold shares of SBUX. Palouse Capital Management Inc. grew its holdings in Starbucks by 119.1% during the 3rd quarter. Palouse Capital Management Inc. now owns 48,495 shares of the coffee company’s stock valued at $4,728,000 after purchasing an additional 26,360 shares during the last quarter. Northwest Investment Counselors LLC lifted its position in shares of Starbucks by 7.5% in the 3rd quarter. Northwest Investment Counselors LLC now owns 34,395 shares of the coffee company’s stock worth $3,353,000 after purchasing an additional 2,403 shares during the period. Bellecapital International Ltd. raised its holdings in shares of Starbucks by 5.1% in the third quarter. Bellecapital International Ltd. now owns 26,877 shares of the coffee company’s stock worth $2,620,000 after buying an additional 1,309 shares during the last quarter. Arlington Partners LLC increased its stake in shares of Starbucks by 6.5% in the third quarter. Arlington Partners LLC now owns 43,934 shares of the coffee company’s stock worth $4,283,000 after acquiring an additional 2,697 shares during the period. Finally, Penn Davis Mcfarland Inc. acquired a new stake in Starbucks during the third quarter valued at $2,786,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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.