Johnson Bixby & Associates LLC Reduces Stock Position in Starbucks Co. (NASDAQ:SBUX)

Johnson Bixby & Associates LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 5.2% during the third quarter, Holdings Channel.com reports. The fund owned 3,651 shares of the coffee company’s stock after selling 200 shares during the quarter. Johnson Bixby & Associates LLC’s holdings in Starbucks were worth $356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after buying an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its position in shares of Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after acquiring an additional 127 shares in the last quarter. M&R Capital Management Inc. boosted its stake in shares of Starbucks by 30.9% in the second quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after acquiring an additional 134 shares during the last quarter. Fragasso Financial Advisors Inc increased its position in shares of Starbucks by 1.1% during the second quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock worth $999,000 after purchasing an additional 135 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. raised its stake in Starbucks by 1.8% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 7,495 shares of the coffee company’s stock valued at $583,000 after purchasing an additional 135 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Transactions at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’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 sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Morgan Stanley restated an “overweight” rating and issued a $98.00 price target on shares of Starbucks in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $101.16.

Starbucks Stock Up 1.8 %

NASDAQ SBUX traded up $1.67 during trading on Friday, hitting $95.55. The stock had a trading volume of 4,834,808 shares, compared to its average volume of 11,543,598. The company has a market capitalization of $108.28 billion, a PE ratio of 26.76, a PEG ratio of 2.11 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm has a 50 day moving average price of $92.86 and a 200 day moving average price of $84.54.

Starbucks (NASDAQ:SBUX) last announced its 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 firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

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.