Compass Ion Advisors LLC Lowers Holdings in Starbucks Co. (NASDAQ:SBUX)

Compass Ion Advisors LLC lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,031 shares of the coffee company’s stock after selling 727 shares during the quarter. Compass Ion Advisors LLC’s holdings in Starbucks were worth $588,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SBUX. Fidelis Capital Partners LLC boosted its stake in Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares during the period. AMI Asset Management Corp lifted its stake in Starbucks by 2.8% during the first quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after purchasing an additional 10,092 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Starbucks during the first quarter worth $136,000. BNP Paribas acquired a new stake in shares of Starbucks in the first quarter valued at $9,332,000. Finally, Great Valley Advisor Group Inc. raised its holdings in shares of Starbucks by 45.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after buying an additional 5,377 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Starbucks stock traded up $1.57 during trading hours on Friday, hitting $96.84. The stock had a trading volume of 6,178,250 shares, compared to its average volume of 11,404,794. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The stock has a market capitalization of $109.69 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 2.08 and a beta of 0.97. The stock’s fifty day moving average is $94.90 and its two-hundred day moving average is $84.70.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SBUX shares. Bank of America upped their target price on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. BMO Capital Markets upped their price target on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $118.00 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.44.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

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.