Starbucks Co. (NASDAQ:SBUX) Shares Sold by Ieq Capital LLC

Ieq Capital LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 20.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,600 shares of the coffee company’s stock after selling 19,355 shares during the period. Ieq Capital LLC’s holdings in Starbucks were worth $5,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vima LLC purchased a new position in Starbucks in the fourth quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the 4th quarter worth $26,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth $26,000. Stephens Consulting LLC grew its stake 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 in the last quarter. Finally, DSM Capital Partners LLC purchased a new position in Starbucks in the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.9 %

NASDAQ:SBUX opened at $96.05 on Friday. The stock has a market cap of $108.84 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm’s fifty day simple moving average is $86.67 and its 200-day simple moving average is $84.09.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. Equities analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current year.

Insiders Place Their Bets

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 transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired 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 directly owns 36,242 shares in the company, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Bank of America upped their price target on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective on the stock. BMO Capital Markets upped their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.08.

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.