Starbucks Co. (NASDAQ:SBUX) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 14.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,207 shares of the coffee company’s stock after selling 8,998 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Starbucks were worth $4,220,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SBUX. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks during the 1st quarter valued at about $415,167,000. Marshall Wace LLP grew its stake in shares of Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after buying an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $243,910,000. Flossbach Von Storch AG raised its position in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares during the period. Finally, Capital World Investors acquired a new position in Starbucks in the first quarter valued at approximately $257,721,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SBUX shares. JPMorgan Chase & Co. raised their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday. 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. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Thursday, September 12th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.12.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $97.49 on Tuesday. The firm’s 50-day moving average is $89.16 and its two-hundred day moving average is $84.19. The company has a market capitalization of $110.43 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm 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%. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. On average, analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought 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 of the company’s stock, valued at $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

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.