DekaBank Deutsche Girozentrale Cuts Holdings in Starbucks Co. (NASDAQ:SBUX)

DekaBank Deutsche Girozentrale cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 8.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 395,633 shares of the coffee company’s stock after selling 36,819 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Starbucks were worth $31,408,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. AIMZ Investment Advisors LLC grew its stake in shares of Starbucks by 247.4% during the 2nd quarter. AIMZ Investment Advisors LLC now owns 19,492 shares of the coffee company’s stock worth $1,517,000 after purchasing an additional 13,881 shares during the period. Main Street Financial Solutions LLC grew its position in Starbucks by 9.8% during the second quarter. Main Street Financial Solutions LLC now owns 5,218 shares of the coffee company’s stock worth $406,000 after buying an additional 467 shares during the period. Private Wealth Partners LLC increased its holdings in Starbucks by 3.9% in the second quarter. Private Wealth Partners LLC now owns 5,389 shares of the coffee company’s stock valued at $420,000 after buying an additional 200 shares in the last quarter. Qsemble Capital Management LP lifted its position in shares of Starbucks by 84.1% during the 2nd quarter. Qsemble Capital Management LP now owns 41,954 shares of the coffee company’s stock valued at $3,266,000 after acquiring an additional 19,166 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Starbucks by 589.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 3,663 shares of the coffee company’s stock worth $285,000 after acquiring an additional 3,132 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on SBUX. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Stifel Nicolaus raised 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 research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $98.00 price target on shares of Starbucks in a research report on Wednesday, July 31st. One equities 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. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $99.83.

Starbucks Stock Down 0.7 %

Shares of NASDAQ SBUX opened at $98.57 on Friday. The stock has a market capitalization of $111.65 billion, a PE ratio of 27.15, a P/E/G ratio of 2.35 and a beta of 0.96. The firm has a fifty day moving average of $84.39 and a 200-day moving average of $83.92. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 earnings per share. Equities research analysts expect that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of 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.