Starbucks Co. (NASDAQ:SBUX) Stake Cut by Everence Capital Management Inc.

Everence Capital Management Inc. lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 20.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,032 shares of the coffee company’s stock after selling 6,100 shares during the quarter. Everence Capital Management Inc.’s holdings in Starbucks were worth $2,343,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Riverview Trust Co increased its position in shares of Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after acquiring an additional 105 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its stake in Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after purchasing an additional 127 shares during the period. Keystone Wealth Services LLC increased its holdings in Starbucks by 1.3% during the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after purchasing an additional 130 shares in the last quarter. Chicago Capital LLC raised its stake in shares of Starbucks by 0.6% in the 3rd quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock valued at $2,060,000 after purchasing an additional 132 shares during the period. Finally, M&R Capital Management Inc. lifted its holdings 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 valued at $44,000 after purchasing an additional 134 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 0.1 %

SBUX stock traded down $0.05 during trading hours on Monday, hitting $96.79. 1,308,465 shares of the stock were exchanged, compared to its average volume of 11,356,811. The company has a 50-day simple moving average of $94.90 and a two-hundred day simple moving average of $84.67. The firm has a market capitalization of $109.63 billion, a P/E ratio of 26.58, a P/E/G ratio of 2.08 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the company earned $1.00 EPS. The business’s revenue was down .6% on a year-over-year basis. On average, equities research analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the 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 owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Morgan Stanley boosted their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their price target for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. DZ Bank downgraded 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, BTIG Research upped their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.44.

Starbucks 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.