The recent trading activity at Starbucks has attracted attention due to the insider trading actions of Director Jorgen Vig Knudstorp and CEO Rachel Ruggeri.
Knudstorp purchased 380 shares of the company on September 6th, increasing his total ownership to 36,242 shares. Ruggeri, on the other hand, sold 3,290 shares on August 13th, retaining 62,502 shares. These insider trading activities may indicate differing perspectives on Starbucks' market trajectory.
Institutional investment in Starbucks has also seen some changes. Riverview Trust Co and Astoria Portfolio Advisors LLC increased their stakes in the company, while Keystone Wealth Services LLC and Chicago Capital LLC expanded their investments. M&R Capital Management Inc. made a significant move, growing its holdings by 30.9% in the second quarter. Overall, institutional investors hold 72.29% of Starbucks stock, reflecting confidence in the company's long-term prospects.
Analysts have given mixed reviews to Starbucks, with UBS Group raising its target price, DZ Bank downgrading the stock, and Barclays increasing its target. Baird R W upgraded Starbucks to a "strong-buy" rating, while Stifel Nicolaus adjusted its price objective. Evercore ISI also upgraded the stock. The consensus rating for Starbucks is "Moderate Buy," with an average target price of $102.48.
In terms of stock performance, Starbucks shares experienced a slight decline, with a trading volume of over 7.2 million shares. The company's market capitalization is approximately $108.78 billion, with a price-to-earnings ratio of 26.52 and a P/E/G ratio of 2.14. The stock has fluctuated within a 52-week range of $71.55 to $107.66.
Starbucks' recent quarterly earnings report revealed an EPS of $0.93, in line with analysts' expectations. However, the company's revenue of $9.11 billion fell short of the anticipated $9.25 billion. Analysts project an EPS of 3.55 for the current year, indicating a cautious but optimistic outlook for Starbucks' financial performance.