Starbucks (NASDAQ:SBUX) Stock Price Down 0.1% – Here’s What Happened

Starbucks Co. (NASDAQ:SBUX)’s stock price fell 0.1% on Thursday . The company traded as low as $94.78 and last traded at $95.33. 896,067 shares changed hands during trading, a decline of 92% from the average session volume of 11,407,521 shares. The stock had previously closed at $95.46.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SBUX. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Finally, Morgan Stanley lifted their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $102.44.

Starbucks Stock Up 1.6 %

The company’s 50-day simple moving average is $94.90 and its 200 day simple moving average is $84.73. The company has a market capitalization of $109.69 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.08 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. 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 prior year, the company posted $1.00 earnings per share. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the 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 completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade 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 Investors Weigh In On Starbucks

Several hedge funds and other institutional investors have recently modified their holdings of SBUX. Kapitalo Investimentos Ltda grew its position in Starbucks by 51.1% during the fourth quarter. Kapitalo Investimentos Ltda now owns 615 shares of the coffee company’s stock worth $59,000 after buying an additional 208 shares in the last quarter. RFG Advisory LLC grew its holdings in shares of Starbucks by 5.2% during the 1st quarter. RFG Advisory LLC now owns 10,353 shares of the coffee company’s stock worth $946,000 after purchasing an additional 513 shares in the last quarter. Sanders Morris Harris LLC increased its position in shares of Starbucks by 7.3% during the first quarter. Sanders Morris Harris LLC now owns 5,363 shares of the coffee company’s stock valued at $490,000 after purchasing an additional 363 shares during the period. &PARTNERS increased its position in shares of Starbucks by 31.1% during the first quarter. &PARTNERS now owns 14,012 shares of the coffee company’s stock valued at $1,281,000 after purchasing an additional 3,325 shares during the period. Finally, City State Bank raised its stake in shares of Starbucks by 17.3% in the first quarter. City State Bank now owns 6,314 shares of the coffee company’s stock valued at $577,000 after purchasing an additional 930 shares in the last quarter. Institutional investors and hedge funds 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.