Capital Investment Advisors LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 7.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,582 shares of the coffee company’s stock after selling 978 shares during the period. Capital Investment Advisors LLC’s holdings in Starbucks were worth $1,246,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Starbucks by 0.3% during the 1st quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock valued at $4,594,235,000 after purchasing an additional 135,644 shares during the last quarter. Morgan Stanley grew its stake in shares of Starbucks by 46.3% during the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after buying an additional 8,451,599 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Starbucks by 1.6% in the first quarter. Geode Capital Management LLC now owns 21,506,132 shares of the coffee company’s stock worth $2,234,305,000 after buying an additional 330,954 shares during the period. Norges Bank bought a new stake in shares of Starbucks during the 4th quarter worth approximately $1,222,931,000. Finally, Fisher Asset Management LLC boosted its holdings in Starbucks by 3.2% during the 1st quarter. Fisher Asset Management LLC now owns 10,505,963 shares of the coffee company’s stock valued at $1,093,986,000 after acquiring an additional 327,312 shares during the period. 70.13% of the stock is owned by institutional investors.
Starbucks Trading Up 0.6 %
Shares of SBUX opened at $96.76 on Tuesday. The firm has a market cap of $110.83 billion, a PE ratio of 29.50, a P/E/G ratio of 1.69 and a beta of 0.93. Starbucks Co. has a 12 month low of $82.43 and a 12 month high of $115.48. The stock has a fifty day moving average price of $99.19 and a 200-day moving average price of $101.43.
Insiders Place Their Bets
In other Starbucks news, CFO Rachel Ruggeri sold 679 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total value of $68,307.40. Following the completion of the transaction, the chief financial officer now owns 54,761 shares of the company’s stock, valued at $5,508,956.60. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.98% of the stock is owned by insiders.
Analyst Ratings Changes
SBUX has been the subject of several research analyst reports. Morgan Stanley reiterated an “equal weight” rating and set a $104.00 target price on shares of Starbucks in a research report on Wednesday, August 2nd. TD Cowen reissued an “outperform” rating and issued a $117.00 price objective on shares of Starbucks in a research report on Wednesday, August 2nd. Wedbush reduced their target price on shares of Starbucks from $112.00 to $105.00 in a research report on Wednesday, August 2nd. Stephens reaffirmed an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a research note on Wednesday, August 2nd. Finally, StockNews.com initiated coverage on Starbucks in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $115.24.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.
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