IMS Capital Management Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

IMS Capital Management cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 16.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,342 shares of the coffee company’s stock after selling 5,068 shares during the period. IMS Capital Management’s holdings in Starbucks were worth $1,973,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Scarborough Advisors LLC purchased a new stake in Starbucks during the fourth quarter valued at about $26,000. Vima LLC purchased a new stake in shares of Starbucks during the 4th quarter worth about $26,000. Fairman Group LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $30,000. Raleigh Capital Management Inc. raised its holdings in Starbucks by 150.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 198 shares during the period. Finally, New Millennium Group LLC acquired a new position in Starbucks during the second quarter valued at approximately $26,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Bank of America boosted their price objective on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research note on Wednesday, August 21st. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction 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 owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value 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. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $97.49 on Tuesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The company’s fifty day moving average is $89.16 and its two-hundred day moving average is $84.19. The stock has a market capitalization of $110.43 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 earnings per share. Sell-side analysts expect 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.