Garde Capital Inc. Reduces Stock Position in Starbucks Co. (NASDAQ:SBUX)

Garde Capital Inc. lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 13.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,619 shares of the coffee company’s stock after selling 4,462 shares during the quarter. Garde Capital Inc.’s holdings in Starbucks were worth $2,150,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Vima LLC acquired a new position in Starbucks in the fourth quarter valued at $26,000. Scarborough Advisors LLC acquired a new position in Starbucks in the fourth quarter valued at $26,000. New Millennium Group LLC acquired a new position in Starbucks in the second quarter valued at $26,000. Stephens Consulting LLC boosted its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Starbucks in the second quarter valued at $27,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. decreased their target price on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. BMO Capital Markets increased their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average target price of $100.52.

Starbucks Trading Down 0.1 %

Shares of Starbucks stock opened at $97.36 on Monday. The company has a 50-day moving average of $88.74 and a two-hundred day moving average of $84.15. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock has a market cap of $110.28 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued 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 net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the company posted $1.00 EPS. The company’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal 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.