Starbucks Co. (NASDAQ:SBUX) Shares Sold by Traveka Wealth LLC

Traveka Wealth LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 24.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,063 shares of the coffee company’s stock after selling 650 shares during the period. Traveka Wealth LLC’s holdings in Starbucks were worth $201,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SBUX. Ontario Teachers Pension Plan Board acquired a new position in Starbucks during the 1st quarter worth $415,167,000. Marshall Wace LLP lifted its position 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 worth $260,870,000 after buying an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Starbucks in the 2nd quarter worth about $243,910,000. Flossbach Von Storch AG lifted its position in shares of Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Finally, Capital World Investors bought a new position in shares of Starbucks in the 1st quarter worth about $257,721,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Starbucks stock traded down $0.61 during trading hours on Tuesday, hitting $95.48. The company had a trading volume of 2,253,520 shares, compared to its average volume of 11,628,790. The firm has a market capitalization of $108.15 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97. The firm’s fifty day moving average is $91.33 and its 200-day moving average is $84.36. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 EPS. Analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SBUX. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Wedbush reiterated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a research report on Tuesday, August 13th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, August 21st. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and cut their price objective for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $101.12.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 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 completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’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 value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

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.