Starbucks Co. (NASDAQ:SBUX) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 14.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 54,207 shares of the coffee company’s stock after selling 8,998 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Starbucks were worth $4,220,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Cox Capital Mgt LLC boosted its holdings in Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares during the period. Brevan Howard Capital Management LP acquired a new position in shares of Starbucks in the 4th quarter valued at about $2,781,000. Sanibel Captiva Trust Company Inc. bought a new stake in shares of Starbucks during the 4th quarter valued at about $31,246,000. Fidelis Capital Partners LLC raised its stake in Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after acquiring an additional 1,751 shares during the period. Finally, TKG Advisors LLC lifted its holdings in Starbucks by 4.6% in the fourth quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock worth $1,873,000 after acquiring an additional 860 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Starbucks stock opened at $97.49 on Tuesday. The firm has a market cap of $110.43 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 2.26 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 firm’s 50 day moving average price is $89.16 and its two-hundred day moving average price is $84.19.

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, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the previous year, the firm posted $1.00 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts predict that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. 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. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Barclays boosted their price objective on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and raised their target price for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Finally, The Goldman Sachs Group initiated coverage on Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price target for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $101.12.

Insiders Place Their Bets

In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

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.