Starbucks Co. (NASDAQ:SBUX) Stake Lessened by Sugarloaf Wealth Management LLC

Sugarloaf Wealth Management LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 14.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,536 shares of the coffee company’s stock after selling 258 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Starbucks were worth $150,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Versant Capital Management Inc raised its stake in shares of Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after buying an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its position in shares of Starbucks by 2.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after purchasing an additional 127 shares in the last quarter. M&R Capital Management Inc. grew its stake in shares of Starbucks by 30.9% in the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after purchasing an additional 134 shares during the last quarter. Fragasso Financial Advisors Inc grew its stake in shares of Starbucks by 1.1% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock worth $999,000 after purchasing an additional 135 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. raised 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 purchasing an additional 135 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Wedbush reaffirmed a “neutral” rating and set a $80.00 target price on shares of Starbucks in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group started coverage on shares of Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price on the stock. Two 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.16.

Starbucks Stock Up 0.1 %

SBUX stock opened at $96.21 on Wednesday. The company has a market capitalization of $108.98 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 2.12 and a beta of 0.97. The firm has a 50 day moving average of $91.33 and a two-hundred day moving average of $84.36. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate 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 the consensus estimate of $9.25 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The transaction 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 firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents 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 owned by company insiders.

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.