Middleton & Co. Inc. MA Sells 4,395 Shares of Starbucks Co. (NASDAQ:SBUX)

Middleton & Co. Inc. MA reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,711 shares of the coffee company’s stock after selling 4,395 shares during the quarter. Middleton & Co. Inc. MA’s holdings in Starbucks were worth $4,571,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SBUX. Gryphon Financial Partners LLC lifted its position in Starbucks by 96.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock valued at $508,000 after acquiring an additional 2,558 shares during the last quarter. TrinityPoint Wealth LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at $230,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Starbucks by 5.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,269 shares of the coffee company’s stock valued at $314,000 after purchasing an additional 180 shares during the last quarter. Assetmark Inc. increased its position in Starbucks by 14.5% during the 4th quarter. Assetmark Inc. now owns 95,372 shares of the coffee company’s stock valued at $9,157,000 after buying an additional 12,089 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Starbucks by 2.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 12,697 shares of the coffee company’s stock valued at $1,219,000 after acquiring an additional 324 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX opened at $96.12 on Thursday. The business has a fifty day moving average price of $85.77 and a 200 day moving average price of $83.98. The company has a market cap of $108.92 billion, a P/E ratio of 26.48, a P/E/G ratio of 2.38 and a beta of 0.96. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research analyst reports. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. JPMorgan Chase & Co. cut their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Morgan Stanley reissued an “overweight” rating and set a $98.00 price target on shares of Starbucks in a research report on Wednesday, July 31st. Wedbush reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Finally, Stifel Nicolaus raised shares of 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 report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.08.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on 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 $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

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.