Starbucks (NASDAQ:SBUX) Shares Up 1.7%

Starbucks Co. (NASDAQ:SBUX)’s share price rose 1.7% during trading on Wednesday . The stock traded as high as $94.99 and last traded at $94.93. Approximately 2,874,545 shares traded hands during trading, a decline of 76% from the average daily volume of 11,877,751 shares. The stock had previously closed at $93.34.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SBUX shares. Bank of America lifted their price target on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets boosted their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday. Wedbush reissued a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. TD Cowen lifted their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

Starbucks Stock Up 3.5 %

The company has a market capitalization of $109.42 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96. The stock’s fifty day moving average price is $83.04 and its two-hundred day moving average price is $83.76.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 EPS. On average, equities research analysts forecast that Starbucks Co. will post 3.56 EPS for the current year.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now 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. Insiders have sold a total of 9,790 shares of company stock worth $865,514 over the last quarter. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Lazari Capital Management Inc. grew its holdings in Starbucks by 13.0% in the second quarter. Lazari Capital Management Inc. now owns 17,738 shares of the coffee company’s stock worth $1,381,000 after purchasing an additional 2,044 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Starbucks in the 2nd quarter worth approximately $18,704,000. Coronation Fund Managers Ltd. purchased a new stake in shares of Starbucks in the 2nd quarter worth approximately $2,043,000. Creekside Partners bought a new position in Starbucks during the 2nd quarter valued at approximately $357,000. Finally, Brown Financial Advisors purchased a new position in Starbucks during the second quarter valued at $1,375,000. 72.29% of the stock is currently owned by 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.