Starbucks Co. (NASDAQ:SBUX) Shares Sold by Alaethes Wealth LLC

Alaethes Wealth LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 4.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,179 shares of the coffee company’s stock after selling 224 shares during the quarter. Alaethes Wealth LLC’s holdings in Starbucks were worth $403,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 worth $9,907,020,000 after purchasing an additional 470,498 shares during the period. Fisher Asset Management LLC boosted its position in shares of Starbucks by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock worth $1,090,654,000 after buying an additional 260,489 shares during the period. Flossbach Von Storch AG grew its stake in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Starbucks by 5.2% in the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock valued at $495,145,000 after buying an additional 266,570 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in Starbucks by 12.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 5,254,384 shares of the coffee company’s stock worth $504,473,000 after acquiring an additional 574,763 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SBUX shares. Citigroup lifted their target price on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group began coverage on shares of Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 target price on the stock. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research report on Thursday, September 12th. Barclays upped 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.08.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Starbucks Stock Performance

Shares of SBUX stock opened at $96.05 on Friday. The stock’s 50-day moving average is $86.67 and its two-hundred day moving average is $84.09. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a market cap of $108.84 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.31 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The company 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 firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. As a group, research analysts predict that Starbucks Co. will post 3.56 EPS for the current year.

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.