Brown Lisle Cummings Inc. Sells 150 Shares of Starbucks Co. (NASDAQ:SBUX)

Brown Lisle Cummings Inc. trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 1.8% in the third quarter, Holdings Channel.com reports. The firm owned 8,152 shares of the coffee company’s stock after selling 150 shares during the period. Brown Lisle Cummings Inc.’s holdings in Starbucks were worth $795,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SBUX. Vanguard Group Inc. raised its position in shares of Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after acquiring an additional 470,498 shares during the last quarter. Legal & General Group Plc raised its holdings in Starbucks by 2.6% in the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after purchasing an additional 221,718 shares during the period. Flossbach Von Storch AG raised its holdings in Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the period. Nordea Investment Management AB boosted its position in shares of Starbucks by 5.2% during the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after purchasing an additional 266,570 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks in the 1st quarter valued at $415,167,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 1.6 %

Shares of SBUX stock opened at $96.84 on Monday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a 50 day moving average price of $94.90 and a two-hundred day moving average price of $84.67. The company has a market capitalization of $109.69 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share 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 business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the company earned $1.00 EPS. The business’s revenue was down .6% on a year-over-year basis. As a group, research analysts expect that Starbucks Co. will post 3.55 EPS for the current year.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 transaction of $305,597.50. Following the completion of the transaction, 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 currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Evercore ISI upgraded 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 report on Wednesday, August 14th. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Thursday, September 12th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. BMO Capital Markets upped their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. 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 issued a strong buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $102.44.

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.