Starbucks Co. (NASDAQ:SBUX) Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.1% in the 2nd quarter, Holdings Channel reports. The fund owned 494,636 shares of the coffee company’s stock after selling 292 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Starbucks were worth $38,507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of SBUX. Jones Financial Companies Lllp raised its position in Starbucks by 1.4% during the fourth quarter. Jones Financial Companies Lllp now owns 86,412 shares of the coffee company’s stock valued at $8,296,000 after acquiring an additional 1,167 shares in the last quarter. CWA Asset Management Group LLC increased its position in shares of Starbucks by 40.9% in the fourth quarter. CWA Asset Management Group LLC now owns 4,708 shares of the coffee company’s stock valued at $452,000 after buying an additional 1,367 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of Starbucks by 14.8% in the fourth quarter. Rafferty Asset Management LLC now owns 208,076 shares of the coffee company’s stock valued at $19,977,000 after buying an additional 26,833 shares in the last quarter. Cornerstone Advisory LLC increased its position in shares of Starbucks by 9.2% in the fourth quarter. Cornerstone Advisory LLC now owns 2,980 shares of the coffee company’s stock valued at $286,000 after buying an additional 251 shares in the last quarter. Finally, Nicholas Company Inc. increased its position in shares of Starbucks by 8.4% in the fourth quarter. Nicholas Company Inc. now owns 489,895 shares of the coffee company’s stock valued at $47,035,000 after buying an additional 37,985 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on SBUX. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday. Citigroup boosted their price target on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Finally, TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.12.

Starbucks Stock Up 0.1 %

Shares of Starbucks stock opened at $97.49 on Tuesday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The business’s fifty day simple moving average is $89.16 and its 200-day simple moving average is $84.19. The firm has a market cap of $110.43 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $9.25 billion. During the same quarter in the prior year, the company posted $1.00 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated 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 owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s 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 sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 completion of the transaction, the chief executive officer now directly 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. Corporate insiders own 1.98% of the company’s stock.

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.