Starbucks Co. (NASDAQ:SBUX) Shares Sold by Stratos Investment Management LLC

Stratos Investment Management LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 60.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,106 shares of the coffee company’s stock after selling 7,797 shares during the period. Stratos Investment Management LLC’s holdings in Starbucks were worth $498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the second quarter valued at $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at about $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% during 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 during the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks in the second quarter worth about $27,000. Finally, Olistico Wealth LLC bought a new stake in Starbucks in the second quarter valued at about $31,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Thursday, September 12th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Two 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.44.

Insider Activity

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were purchased 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 directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, 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. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 1.6 %

Starbucks stock opened at $96.84 on Friday. The company’s 50-day moving average price is $94.90 and its two-hundred day moving average price is $84.70. The stock has a market cap of $109.69 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 2.08 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced 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 for 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%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 earnings per share. Research analysts expect that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

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.