Starbucks (NASDAQ:SBUX) Shares Up 1.6% – Here’s Why

Starbucks Co. (NASDAQ:SBUX) shares rose 1.6% during trading on Friday . The stock traded as high as $95.42 and last traded at $95.39. Approximately 669,620 shares were traded during trading, a decline of 94% from the average daily volume of 11,522,461 shares. The stock had previously closed at $93.88.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research analyst reports. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a report on Wednesday, August 21st. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. BMO Capital Markets upped their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Finally, Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $101.16.

Starbucks Stock Up 2.0 %

The business’s fifty day moving average is $92.47 and its two-hundred day moving average is $84.55. The stock has a market capitalization of $108.47 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 2.11 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share 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 for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the firm posted $1.00 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cox Capital Mgt LLC grew its stake in Starbucks by 41.9% in the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after acquiring an additional 13,372 shares in the last quarter. Sanibel Captiva Trust Company Inc. purchased a new position in Starbucks during the 4th quarter worth $31,246,000. Fidelis Capital Partners LLC raised its position in Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 1,751 shares in the last quarter. TKG Advisors LLC lifted its holdings in shares of Starbucks by 4.6% in the 4th quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock worth $1,873,000 after buying an additional 860 shares during the period. Finally, AMI Asset Management Corp grew its position in shares of Starbucks by 2.8% during the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after buying an additional 10,092 shares in the last quarter. 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.