Cyrus J. Lawrence LLC Sells 33,030 Shares of Starbucks Co. (NASDAQ:SBUX)

Cyrus J. Lawrence LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 96.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,245 shares of the coffee company’s stock after selling 33,030 shares during the quarter. Cyrus J. Lawrence LLC’s holdings in Starbucks were worth $96,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DRW Securities LLC raised its position in shares of Starbucks by 20.6% in the second quarter. DRW Securities LLC now owns 6,609 shares of the coffee company’s stock valued at $513,000 after purchasing an additional 1,130 shares during the period. EverSource Wealth Advisors LLC grew its stake in Starbucks by 5.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 12,591 shares of the coffee company’s stock valued at $981,000 after buying an additional 627 shares in the last quarter. Fairscale Capital LLC bought a new stake in Starbucks during the 2nd quarter valued at $93,000. Epoch Investment Partners Inc. lifted its position in shares of Starbucks by 0.7% during the second quarter. Epoch Investment Partners Inc. now owns 1,207,537 shares of the coffee company’s stock worth $94,007,000 after acquiring an additional 8,556 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its holdings in shares of Starbucks by 18.7% in the second quarter. Mount Yale Investment Advisors LLC now owns 23,160 shares of the coffee company’s stock worth $1,803,000 after acquiring an additional 3,650 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

SBUX stock opened at $96.05 on Monday. The firm has a market cap of $108.84 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.31 and a beta of 0.96. The firm’s fifty day moving average is $86.67 and its 200 day moving average is $83.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

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

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The stock was purchased 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 of the company’s stock, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’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 sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction on 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 transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SBUX. The Goldman Sachs Group started coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price for the company. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Starbucks 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.