Commonwealth Equity Services LLC Sells 39,562 Shares of Starbucks Co. (NASDAQ:SBUX)

Commonwealth Equity Services LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 511,338 shares of the coffee company’s stock after selling 39,562 shares during the period. Commonwealth Equity Services LLC’s holdings in Starbucks were worth $49,850,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SBUX. Vanguard Group Inc. lifted its stake in Starbucks by 0.4% in the first 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 lifted its stake in Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares during the last quarter. Flossbach Von Storch AG grew its holdings in Starbucks by 106.7% during 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 increased its position in 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 buying an additional 266,570 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in Starbucks in the first quarter valued at approximately $415,167,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated 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 owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Up 1.6 %

Starbucks stock opened at $96.84 on Monday. The business’s 50-day moving average price is $94.90 and its two-hundred day moving average price is $84.67. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock has a market cap of $109.69 billion, a PE ratio of 26.68, a P/E/G 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 EPS for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 EPS. As a group, analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on SBUX. Morgan Stanley lifted their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $102.44.

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.