APG Asset Management N.V. Trims Stock Position in Starbucks Co. (NASDAQ:SBUX)

APG Asset Management N.V. decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,531,696 shares of the coffee company’s stock after selling 45,953 shares during the quarter. APG Asset Management N.V.’s holdings in Starbucks were worth $111,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SBUX. Scarborough Advisors LLC bought a new stake in Starbucks during the fourth quarter worth approximately $26,000. Vima LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. Fairman Group LLC purchased a new stake in shares of Starbucks in the 4th quarter worth $30,000. Raleigh Capital Management Inc. grew its position in shares of Starbucks by 150.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 198 shares in the last quarter. Finally, New Millennium Group LLC bought a new stake in shares of Starbucks in the second quarter valued at about $26,000. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SBUX shares. Stifel Nicolaus upgraded 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. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $92.00 to $115.00 in a research report on Thursday. Morgan Stanley reissued an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. Bank of America increased their price objective on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.52.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired 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 directly owns 36,242 shares in the company, valued at approximately $3,316,143. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the 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 transaction, the chief executive officer now directly owns 75,054 shares in the company, 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 corporate insiders.

Starbucks Trading Up 1.9 %

NASDAQ:SBUX opened at $97.47 on Friday. The stock has a 50 day moving average of $87.91 and a two-hundred day moving average of $84.13. The firm has a market cap of $110.45 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 earnings per share. On average, research analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current year.

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.