Long Road Investment Counsel LLC Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

Long Road Investment Counsel LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,770 shares of the coffee company’s stock after selling 500 shares during the period. Starbucks comprises about 2.3% of Long Road Investment Counsel LLC’s investment portfolio, making the stock its 13th biggest holding. Long Road Investment Counsel LLC’s holdings in Starbucks were worth $5,198,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SBUX. Vima LLC purchased a new stake in Starbucks during the 4th quarter valued at $26,000. Scarborough Advisors LLC purchased a new stake in Starbucks during the 4th quarter valued at $26,000. New Millennium Group LLC purchased a new stake in shares of Starbucks in the 2nd quarter worth about $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% in the 2nd 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 period. Finally, DSM Capital Partners LLC purchased a new stake in shares of Starbucks in the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.9 %

Shares of NASDAQ SBUX opened at $96.05 on Friday. The firm’s 50-day moving average price is $86.67 and its 200-day moving average price is $84.04. The company has a market cap of $108.84 billion, a PE ratio of 26.46, a PEG ratio of 2.31 and a beta of 0.96. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

SBUX has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Thursday, September 12th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Finally, Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average 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.