Starbucks Co. (NASDAQ:SBUX) Director Jorgen Vig Knudstorp Purchases 380 Shares of Stock

Starbucks Co. (NASDAQ:SBUX) 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, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Starbucks Trading Up 0.1 %

Shares of NASDAQ SBUX opened at $96.44 on Wednesday. The firm has a market cap of $109.29 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. The stock has a fifty day simple moving average of $85.30 and a two-hundred day simple moving average of $83.89. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted 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. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 EPS. Analysts forecast that Starbucks Co. will post 3.56 EPS for the current year.

Institutional Trading of Starbucks

Several hedge funds and other institutional investors have recently modified their holdings of SBUX. Scarborough Advisors LLC bought a new stake in Starbucks during the 4th quarter valued at $26,000. Vima LLC purchased a new stake in Starbucks during the 4th quarter worth about $26,000. DSM Capital Partners LLC bought a new position in Starbucks in the 4th quarter worth about $27,000. Fairman Group LLC purchased a new position in Starbucks during the 4th quarter valued at about $30,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the second quarter valued at about $25,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price target on the stock. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Barclays increased their price target on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday, August 21st. Finally, Wedbush reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $99.83.

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.