Starbucks Co. (NASDAQ:SBUX) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,639 shares of the coffee company’s stock after selling 225 shares during the period. Centaurus Financial Inc.’s holdings in Starbucks were worth $1,062,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Starbucks by 19.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 215,988 shares of the coffee company’s stock valued at $16,815,000 after buying an additional 34,498 shares in the last quarter. Verity & Verity LLC lifted its holdings in shares of Starbucks by 4.5% during the 2nd quarter. Verity & Verity LLC now owns 131,308 shares of the coffee company’s stock valued at $10,222,000 after acquiring an additional 5,658 shares in the last quarter. Lazari Capital Management Inc. boosted its position in Starbucks by 13.0% during the 2nd quarter. Lazari Capital Management Inc. now owns 17,738 shares of the coffee company’s stock worth $1,381,000 after purchasing an additional 2,044 shares during the period. Sanctuary Advisors LLC acquired a new stake in Starbucks in the 2nd quarter valued at $18,704,000. Finally, Coronation Fund Managers Ltd. purchased a new position in Starbucks in the second quarter valued at about $2,043,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction 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 purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value 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 disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

SBUX stock opened at $95.56 on Friday. The firm has a market cap of $108.24 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.33 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The firm has a fifty day moving average price of $90.46 and a two-hundred day moving average price of $84.40.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 in the prior year, the firm earned $1.00 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts expect that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SBUX shares. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday, August 21st. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

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.