Brown Brothers Harriman & Co. Has $2.41 Million Position in Starbucks Co. (NASDAQ:SBUX)

Brown Brothers Harriman & Co. lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 11.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 31,000 shares of the coffee company’s stock after selling 3,976 shares during the period. Brown Brothers Harriman & Co.’s holdings in Starbucks were worth $2,413,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. Vima LLC bought a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new stake in Starbucks in the 4th quarter valued at $26,000. New Millennium Group LLC acquired a new stake in Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC increased its holdings in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Finally, DSM Capital Partners LLC acquired a new position in shares of Starbucks during the fourth quarter valued at about $27,000. Institutional investors own 72.29% of the company’s stock.

Insider Activity

In related news, 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 owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now 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 company insiders.

Analyst Ratings Changes

SBUX has been the topic of several research reports. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Barclays boosted their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Citigroup raised their target price on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Bank of America lifted their price target on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.83.

Starbucks Trading Down 2.3 %

Shares of NASDAQ:SBUX opened at $96.31 on Tuesday. The stock has a market capitalization of $109.14 billion, a P/E ratio of 26.53, a P/E/G ratio of 2.38 and a beta of 0.96. 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 $84.82 and a two-hundred day moving average price of $83.87.

Starbucks (NASDAQ:SBUX) last posted its quarterly 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 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 the consensus estimate of $9.25 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. Starbucks’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 3.56 EPS for the current year.

Starbucks Company 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.