Paces Ferry Wealth Advisors LLC Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Paces Ferry Wealth Advisors LLC decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 19.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,458 shares of the coffee company’s stock after selling 1,567 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in Starbucks were worth $503,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Cox Capital Mgt LLC boosted its holdings in Starbucks by 41.9% during the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after acquiring an additional 13,372 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Starbucks during the fourth quarter valued at about $2,781,000. Sanibel Captiva Trust Company Inc. purchased a new position in Starbucks during the fourth quarter worth about $31,246,000. Fidelis Capital Partners LLC grew its position in Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC purchased a new stake in Starbucks in the 4th quarter valued at about $4,048,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Thursday, September 12th. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lowered their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Bank of America lifted their price objective on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.08.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’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 sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of SBUX opened at $96.12 on Thursday. 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 $108.92 billion, a P/E ratio of 26.48, a P/E/G ratio of 2.38 and a beta of 0.96. The firm’s 50 day simple moving average is $85.77 and its 200 day simple moving average is $83.98.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company posted $1.00 EPS. On average, equities analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current 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.