Starbucks Co. (NASDAQ:SBUX) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 19.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,753 shares of the coffee company’s stock after selling 11,139 shares during the period. Park Avenue Securities LLC’s holdings in Starbucks were worth $4,558,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in shares of Starbucks by 7.9% during the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after purchasing an additional 122 shares during the period. Astoria Portfolio Advisors LLC. increased its holdings in Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after buying an additional 127 shares in the last quarter. M&R Capital Management Inc. lifted its position in shares of Starbucks by 30.9% during the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after acquiring an additional 134 shares during the period. Fragasso Financial Advisors Inc boosted its stake in shares of Starbucks by 1.1% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock worth $999,000 after acquiring an additional 135 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. grew its holdings in shares of Starbucks by 1.8% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 7,495 shares of the coffee company’s stock worth $583,000 after acquiring an additional 135 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wedbush reiterated a “neutral” rating and set a $80.00 target price on shares of Starbucks in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price target on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Bank of America increased their price objective on shares of Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.12.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Starbucks Stock Up 1.1 %

Shares of SBUX traded up $1.02 during mid-day trading on Friday, hitting $96.58. The company had a trading volume of 6,819,465 shares, compared to its average volume of 11,699,863. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The business’s 50-day simple moving average is $90.91 and its 200-day simple moving average is $84.44. The stock has a market cap of $109.40 billion, a PE ratio of 26.61, a P/E/G ratio of 2.33 and a beta of 0.97.

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

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.