Crew Capital Management Ltd. Sells 546 Shares of Starbucks Co. (NASDAQ:SBUX)

Crew Capital Management Ltd. cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,857 shares of the coffee company’s stock after selling 546 shares during the quarter. Crew Capital Management Ltd.’s holdings in Starbucks were worth $766,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the second quarter valued at $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the second quarter valued at $26,000. Stephens Consulting LLC boosted 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 valued at $26,000 after buying an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Starbucks during the second quarter valued at $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Starbucks during the second quarter valued at $31,000. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $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. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SBUX shares. BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.44.

Starbucks Price Performance

Shares of SBUX stock traded down $0.51 during mid-day trading on Monday, hitting $96.33. The stock had a trading volume of 843,381 shares, compared to its average volume of 11,354,656. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a market capitalization of $109.11 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97. The firm’s 50-day moving average is $94.90 and its two-hundred day moving average is $84.67.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the business earned $1.00 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts expect that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Company 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.