Starbucks Co. (NASDAQ:SBUX) Stock Position Decreased by Harrington Investments INC

Harrington Investments INC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,344 shares of the coffee company’s stock after selling 345 shares during the quarter. Starbucks accounts for 1.9% of Harrington Investments INC’s portfolio, making the stock its 16th largest holding. Harrington Investments INC’s holdings in Starbucks were worth $3,543,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks in the second quarter worth $25,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $26,000. New Millennium Group LLC acquired a new stake in shares of Starbucks in the second quarter worth $26,000. Stephens Consulting LLC boosted its position in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks in the second quarter worth $27,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $94.76 on Tuesday. The company has a market cap of $107.33 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.06 and a beta of 0.97. The stock’s 50-day moving average is $93.28 and its 200-day moving average is $84.52. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last released 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 negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the business earned $1.00 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Co. will post 3.55 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on SBUX. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. Finally, Bank of America increased their price objective on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.16.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

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.