Starbucks Co. (NASDAQ:SBUX) Stake Reduced by Apella Capital LLC

Apella Capital LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 3.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,946 shares of the coffee company’s stock after selling 212 shares during the quarter. Apella Capital LLC’s holdings in Starbucks were worth $670,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of SBUX. Alpha Omega Wealth Management LLC bought a new stake in Starbucks during the 3rd quarter valued at $212,000. Bright Rock Capital Management LLC bought a new stake in shares of Starbucks during the third quarter valued at about $9,749,000. Curbstone Financial Management Corp lifted its holdings in Starbucks by 1.9% in the third quarter. Curbstone Financial Management Corp now owns 12,510 shares of the coffee company’s stock worth $1,220,000 after purchasing an additional 230 shares during the period. Czech National Bank grew its position in Starbucks by 6.9% in the 3rd quarter. Czech National Bank now owns 230,845 shares of the coffee company’s stock valued at $22,505,000 after buying an additional 14,999 shares in the last quarter. Finally, Cascade Investment Advisors Inc. increased its stake in Starbucks by 5.9% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 19,790 shares of the coffee company’s stock valued at $1,929,000 after buying an additional 1,110 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction of $299,916.40. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’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 value 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 trade was 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 Trading Up 1.1 %

Shares of NASDAQ SBUX traded up $1.02 during midday trading on Friday, hitting $96.58. The company’s stock had a trading volume of 6,819,465 shares, compared to its average volume of 11,699,863. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a market capitalization of $109.40 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 2.33 and a beta of 0.97. The stock has a fifty day moving average price of $90.91 and a 200 day moving average price of $84.44.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on SBUX shares. JPMorgan Chase & Co. upped their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research note on Wednesday, August 21st. The Goldman Sachs Group began coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price on the stock. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.12.

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.