Olistico Wealth LLC Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Olistico Wealth LLC trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 32.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 269 shares of the coffee company’s stock after selling 132 shares during the period. Olistico Wealth LLC’s holdings in Starbucks were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Cresset Asset Management LLC boosted its position in shares of Starbucks by 1.6% in the fourth quarter. Cresset Asset Management LLC now owns 124,546 shares of the coffee company’s stock worth $11,958,000 after purchasing an additional 1,969 shares during the period. Visionary Wealth Advisors boosted its position in shares of Starbucks by 2.6% in the fourth quarter. Visionary Wealth Advisors now owns 5,575 shares of the coffee company’s stock worth $535,000 after purchasing an additional 143 shares during the period. MGO One Seven LLC boosted its position in shares of Starbucks by 2.7% in the fourth quarter. MGO One Seven LLC now owns 27,312 shares of the coffee company’s stock worth $2,622,000 after purchasing an additional 717 shares during the period. Hancock Whitney Corp boosted its position in shares of Starbucks by 450.8% in the fourth quarter. Hancock Whitney Corp now owns 51,582 shares of the coffee company’s stock worth $4,952,000 after purchasing an additional 42,217 shares during the period. Finally, Jacobi Capital Management LLC boosted its position in shares of Starbucks by 1.3% in the fourth quarter. Jacobi Capital Management LLC now owns 15,735 shares of the coffee company’s stock worth $1,511,000 after purchasing an additional 199 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent analyst reports. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. The Goldman Sachs Group began coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Finally, Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Two equities 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 assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.16.

Insider Activity at Starbucks

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 stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost 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 $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the 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 directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

SBUX stock opened at $96.21 on Wednesday. The company’s 50 day moving average price is $91.33 and its 200 day moving average price is $84.36. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm has a market capitalization of $108.98 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.12 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 earnings per share. Equities analysts forecast that Starbucks Co. will post 3.55 EPS for the current fiscal year.

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.