Starbucks Co. (NASDAQ:SBUX) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,191 shares of the coffee company’s stock after selling 531 shares during the period. First Eagle Investment Management LLC’s holdings in Starbucks were worth $3,907,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SBUX. SkyOak Wealth LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at $404,000. CCLA Investment Management grew its position in Starbucks by 1.0% during the second quarter. CCLA Investment Management now owns 1,461,616 shares of the coffee company’s stock valued at $115,503,000 after acquiring an additional 14,858 shares during the period. Waterloo Capital L.P. increased its stake in Starbucks by 13.7% during the second quarter. Waterloo Capital L.P. now owns 2,704 shares of the coffee company’s stock worth $210,000 after acquiring an additional 326 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Starbucks by 3.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 112,629 shares of the coffee company’s stock worth $8,668,000 after purchasing an additional 4,082 shares during the period. Finally, Tredje AP fonden lifted its stake in shares of Starbucks by 83.4% in the 2nd quarter. Tredje AP fonden now owns 355,804 shares of the coffee company’s stock valued at $27,699,000 after purchasing an additional 161,800 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the 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 sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on 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 directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Down 0.9 %

Shares of NASDAQ SBUX opened at $96.05 on Friday. The stock’s 50 day moving average price is $86.67 and its two-hundred day moving average price is $84.09. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock has a market capitalization of $108.84 billion, a P/E ratio of 26.46, a PEG ratio of 2.31 and a beta of 0.96.

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

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Bank of America upped their price target on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays raised their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $100.08.

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.