Norman Fields Gottscho Capital Management LLC Lowers Holdings in Starbucks Co. (NASDAQ:SBUX)

Norman Fields Gottscho Capital Management LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,105 shares of the coffee company’s stock after selling 1,315 shares during the period. Starbucks makes up 2.2% of Norman Fields Gottscho Capital Management LLC’s portfolio, making the stock its 12th biggest holding. Norman Fields Gottscho Capital Management LLC’s holdings in Starbucks were worth $6,542,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new stake in Starbucks in the fourth quarter valued at approximately $26,000. Vima LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at $26,000. Fairman Group LLC bought a new stake in shares of Starbucks during the 4th quarter worth $30,000. Strategic Investment Solutions Inc. IL purchased a new position in Starbucks in the second quarter worth $25,000. Finally, Raleigh Capital Management Inc. increased its stake in Starbucks by 150.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 198 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $96.50 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 $109.31 billion, a PE ratio of 26.58, a P/E/G ratio of 2.33 and a beta of 0.97. The firm’s 50-day moving average price is $90.02 and its 200-day moving average price is $84.32.

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

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s 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 completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research note on Wednesday, August 21st. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

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.