Y.D. More Investments Ltd Sells 6,571 Shares of Starbucks Co. (NASDAQ:SBUX)

Y.D. More Investments Ltd reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 90.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 697 shares of the coffee company’s stock after selling 6,571 shares during the period. Y.D. More Investments Ltd’s holdings in Starbucks were worth $54,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vima LLC purchased a new position in shares of Starbucks in the fourth quarter valued at $26,000. Scarborough Advisors LLC bought a new position in Starbucks during the fourth quarter valued at $26,000. New Millennium Group LLC purchased a new position in shares of Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC increased its holdings in shares of Starbucks by 498.2% in the 2nd 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 last quarter. Finally, DSM Capital Partners LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SBUX. BMO Capital Markets boosted their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research report on Thursday. Citigroup boosted their price objective on shares of Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $99.83.

Starbucks Price Performance

SBUX stock opened at $98.57 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The business has a 50-day moving average price of $84.39 and a 200 day moving average price of $83.99. The company has a market capitalization of $111.70 billion, a P/E ratio of 27.15, a PEG ratio of 2.35 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the firm posted $1.00 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

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.