Bleakley Financial Group LLC Sells 5,128 Shares of Starbucks Co. (NASDAQ:SBUX)

Bleakley Financial Group LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 24.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,997 shares of the coffee company’s stock after selling 5,128 shares during the quarter. Bleakley Financial Group LLC’s holdings in Starbucks were worth $1,560,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks during the 2nd quarter valued at $25,000. New Millennium Group LLC bought a new position in Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC increased its stake 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. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks in the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at approximately $31,000. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred 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 owns 62,502 shares in the company, valued at approximately $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 accessible through this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of analyst reports. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Two equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.44.

Starbucks Stock Performance

SBUX stock opened at $96.84 on Friday. The firm has a market cap of $109.69 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.08 and a beta of 0.97. The firm’s fifty day moving average is $94.90 and its 200 day moving average is $84.70. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. As a group, analysts forecast that Starbucks Co. will post 3.55 EPS for the current 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.