Starbucks Co. (NASDAQ:SBUX) Position Reduced by Rockingstone Advisors LLC

Rockingstone Advisors LLC cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 67.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,022 shares of the coffee company’s stock after selling 10,245 shares during the period. Rockingstone Advisors LLC’s holdings in Starbucks were worth $490,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the second quarter worth approximately $25,000. Vima LLC purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $26,000. New Millennium Group LLC purchased a new stake in shares of Starbucks in the second quarter worth approximately $26,000. Finally, Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought 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 in the company, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on SBUX. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. BMO Capital Markets increased their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Wedbush restated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Two investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.16.

Starbucks Price Performance

Shares of SBUX stock opened at $96.21 on Wednesday. The stock has a market cap of $108.98 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The stock has a fifty day moving average price of $91.33 and a 200 day moving average price of $84.36.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $1.00 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Company 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.