Aprio Wealth Management LLC Sells 516 Shares of Starbucks Co. (NASDAQ:SBUX)

Aprio Wealth Management LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 17.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,493 shares of the coffee company’s stock after selling 516 shares during the period. Aprio Wealth Management LLC’s holdings in Starbucks were worth $243,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Exeter Financial LLC grew its position in Starbucks by 1.1% during the third quarter. Exeter Financial LLC now owns 15,894 shares of the coffee company’s stock valued at $1,550,000 after acquiring an additional 168 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Starbucks by 34.2% during the third quarter. Versant Capital Management Inc now owns 1,979 shares of the coffee company’s stock valued at $193,000 after purchasing an additional 504 shares during the period. New England Research & Management Inc. boosted its stake in shares of Starbucks by 77.7% during the third quarter. New England Research & Management Inc. now owns 11,719 shares of the coffee company’s stock valued at $1,142,000 after purchasing an additional 5,125 shares during the period. Cohen Investment Advisors LLC boosted its stake in shares of Starbucks by 4.0% during the third quarter. Cohen Investment Advisors LLC now owns 22,763 shares of the coffee company’s stock valued at $2,219,000 after purchasing an additional 878 shares during the period. Finally, Fulton Bank N.A. boosted its stake in shares of Starbucks by 11.0% during the third quarter. Fulton Bank N.A. now owns 24,288 shares of the coffee company’s stock valued at $2,368,000 after purchasing an additional 2,416 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on 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 $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $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. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of a number of analyst reports. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Thursday, September 12th. Finally, Citigroup raised their price target on Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $101.16.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $96.21 on Wednesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The business has a fifty day moving average price of $91.33 and a 200-day moving average price of $84.36. The company has a market capitalization of $108.98 billion, a PE ratio of 26.50, a PEG ratio of 2.12 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the company earned $1.00 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

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.