Starbucks Co. (NASDAQ:SBUX) Holdings Lowered by Inlet Private Wealth LLC

Inlet Private Wealth LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,700 shares of the coffee company’s stock after selling 600 shares during the period. Inlet Private Wealth LLC’s holdings in Starbucks were worth $653,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’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 sale, the chief executive officer now directly 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 disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

Shares of SBUX stock traded up $0.35 during midday trading on Thursday, hitting $95.81. 2,126,601 shares of the company were exchanged, compared to its average volume of 11,412,378. The firm has a market capitalization of $108.52 billion, a P/E ratio of 26.26, a PEG ratio of 2.06 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The firm’s 50 day moving average price is $94.08 and its two-hundred day moving average price is $84.62.

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 negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Analysts expect that Starbucks Co. will post 3.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SBUX shares. Citigroup lifted their price target on shares of Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. BTIG Research boosted their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday. Finally, DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.