Starbucks Co. (NASDAQ:SBUX) Shares Sold by ORG Partners LLC

ORG Partners LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 55.1% during the 3rd quarter, Holdings Channel reports. The firm owned 1,662 shares of the coffee company’s stock after selling 2,039 shares during the quarter. ORG Partners LLC’s holdings in Starbucks were worth $162,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. ORG Wealth Partners LLC acquired a new position in Starbucks during the third quarter worth about $195,000. Procyon Advisors LLC lifted its stake in Starbucks by 13.3% in the 3rd quarter. Procyon Advisors LLC now owns 38,924 shares of the coffee company’s stock valued at $3,795,000 after buying an additional 4,559 shares in the last quarter. Paladin Wealth LLC acquired a new stake in Starbucks during the 3rd quarter valued at $734,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Starbucks by 8.4% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 18,286 shares of the coffee company’s stock worth $1,783,000 after buying an additional 1,415 shares in the last quarter. Finally, Orca Investment Management LLC raised its holdings in shares of Starbucks by 6.5% in the third quarter. Orca Investment Management LLC now owns 7,344 shares of the coffee company’s stock worth $716,000 after acquiring an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s 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 sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s 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 transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SBUX shares. Barclays lifted their price objective on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. increased their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $101.16.

Starbucks Price Performance

Shares of Starbucks stock opened at $95.04 on Wednesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The company has a market capitalization of $107.65 billion, a PE ratio of 26.18, a P/E/G ratio of 2.06 and a beta of 0.97. The business has a 50-day moving average of $93.67 and a 200-day moving average of $84.54.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the prior year, the business posted $1.00 earnings per share. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts expect that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

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.