Federated Hermes Inc. Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

Federated Hermes Inc. lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 91.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,622 shares of the coffee company’s stock after selling 63,190 shares during the quarter. Federated Hermes Inc.’s holdings in Starbucks were worth $438,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vima LLC purchased a new stake in Starbucks during the 4th quarter worth $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at about $26,000. New Millennium Group LLC acquired a new position in Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC boosted its holdings in 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 acquiring an additional 279 shares during the period. Finally, DSM Capital Partners LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $27,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 0.6 %

SBUX stock opened at $95.48 on Tuesday. The company has a 50-day simple moving average of $87.12 and a 200 day simple moving average of $84.02. The company has a market capitalization of $108.20 billion, a P/E ratio of 26.30, a PEG 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.

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

Insider Transactions at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired 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 $3,316,143. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research note on Wednesday, August 21st. Bank of America upped their target price on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. 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. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.08.

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.