Clean Yield Group Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Clean Yield Group cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 31.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 416 shares of the coffee company’s stock after selling 194 shares during the period. Clean Yield Group’s holdings in Starbucks were worth $41,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Cox Capital Mgt LLC increased its holdings in Starbucks by 41.9% in the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after acquiring an additional 13,372 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of Starbucks during the 4th quarter valued at $2,781,000. Sanibel Captiva Trust Company Inc. bought a new position in Starbucks in the 4th quarter worth $31,246,000. Fidelis Capital Partners LLC increased its stake in Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares in the last quarter. Finally, TKG Advisors LLC raised its holdings in Starbucks by 4.6% during the fourth quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock valued at $1,873,000 after acquiring an additional 860 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on SBUX shares. BMO Capital Markets increased their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. TD Cowen reissued a “buy” rating and issued a $110.00 target price on shares of Starbucks in a report on Thursday, September 12th. The Goldman Sachs Group initiated coverage on shares of Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 target price for the company. Finally, Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.16.

Starbucks Trading Up 0.1 %

NASDAQ:SBUX opened at $96.21 on Wednesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a market cap of $108.98 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97. The stock has a fifty day moving average price of $91.33 and a 200 day moving average price of $84.36.

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

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

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.