Ameritas Investment Partners Inc. Sells 314 Shares of Starbucks Co. (NASDAQ:SBUX)

Ameritas Investment Partners Inc. decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,010 shares of the coffee company’s stock after selling 314 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Starbucks were worth $3,504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Pacer Advisors Inc. grew its holdings in Starbucks by 0.9% during the second quarter. Pacer Advisors Inc. now owns 134,130 shares of the coffee company’s stock valued at $10,442,000 after purchasing an additional 1,182 shares during the period. AE Wealth Management LLC boosted its position in shares of Starbucks by 42.1% during the second quarter. AE Wealth Management LLC now owns 23,099 shares of the coffee company’s stock worth $1,798,000 after purchasing an additional 6,841 shares in the last quarter. Bridges Investment Management Inc. grew its holdings in shares of Starbucks by 21.0% in the 2nd quarter. Bridges Investment Management Inc. now owns 4,312 shares of the coffee company’s stock valued at $336,000 after buying an additional 747 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Starbucks by 27.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,808,671 shares of the coffee company’s stock valued at $140,805,000 after buying an additional 394,267 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Starbucks by 9.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 115,435 shares of the coffee company’s stock worth $8,987,000 after buying an additional 9,753 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 0.9 %

NASDAQ SBUX opened at $96.05 on Friday. The firm has a market capitalization of $108.84 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. The firm’s fifty day moving average price is $86.67 and its two-hundred day moving average price is $84.09. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (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 company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the firm earned $1.00 EPS. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Activity

In related news, 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 transaction, the chief executive officer now directly 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. In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SBUX. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Wedbush reiterated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a research report on Tuesday, August 13th. Morgan Stanley restated an “overweight” rating and set a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. Jefferies Financial Group reduced their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Finally, Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. One 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.08.

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.