Sei Investments Co. Decreases Holdings in Starbucks Co. (NASDAQ:SBUX)

Sei Investments Co. trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 44.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 224,840 shares of the coffee company’s stock after selling 182,659 shares during the quarter. Sei Investments Co.’s holdings in Starbucks were worth $17,503,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of 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 lifted its position in shares of Starbucks by 42.1% during the 2nd quarter. AE Wealth Management LLC now owns 23,099 shares of the coffee company’s stock valued at $1,798,000 after buying an additional 6,841 shares during the last quarter. Bridges Investment Management Inc. grew its stake in shares of Starbucks by 21.0% during the 2nd quarter. Bridges Investment Management Inc. now owns 4,312 shares of the coffee company’s stock worth $336,000 after acquiring an additional 747 shares during the period. Canada Pension Plan Investment Board increased its holdings in 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 worth $140,805,000 after acquiring an additional 394,267 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Starbucks by 9.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 115,435 shares of the coffee company’s stock valued at $8,987,000 after acquiring an additional 9,753 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Up 1.2 %

Shares of NASDAQ:SBUX opened at $95.62 on Thursday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock’s 50-day moving average price is $87.50 and its 200-day moving average price is $84.04. The stock has a market capitalization of $108.36 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96.

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

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 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, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s 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 transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SBUX has been the subject of several recent research reports. Morgan Stanley reiterated an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research note on Wednesday, July 31st. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Bank of America increased their target price on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Wedbush reiterated a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. Finally, DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.92.

About Starbucks

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.