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

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Thursday, September 12th. Citigroup increased their price target on shares of Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. BMO Capital Markets raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $102.44.

Starbucks Trading Down 0.4 %

The company has a 50 day moving average price of $94.90 and a 200 day moving average price of $84.67. The company has a market capitalization of $109.21 billion, a P/E ratio of 26.58, a P/E/G ratio of 2.08 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share 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 firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the previous year, the firm earned $1.00 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts forecast that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were purchased 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 in the company, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Institutional Trading of Starbucks

Hedge funds and other institutional investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the 2nd quarter worth approximately $25,000. New Millennium Group LLC purchased a new position in shares of Starbucks during the second quarter valued at $26,000. Stephens Consulting LLC grew its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Starbucks in the second quarter valued at about $27,000. Finally, Olistico Wealth LLC purchased a new position in Starbucks in the second quarter valued at about $31,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

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.