Starbucks Co. (NASDAQ:SBUX) Shares Sold by Rockingstone Advisors LLC

Rockingstone Advisors LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 67.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,022 shares of the coffee company’s stock after selling 10,245 shares during the period. Rockingstone Advisors LLC’s holdings in Starbucks were worth $490,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SBUX. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the second quarter valued at approximately $25,000. Vima LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the second quarter valued at approximately $26,000. Finally, Stephens Consulting LLC raised its stake in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 0.1 %

Shares of SBUX opened at $96.21 on Wednesday. The firm has a 50-day moving average price of $91.33 and a 200 day moving average price of $84.36. The firm has a market capitalization of $108.98 billion, a PE ratio of 26.50, a P/E/G ratio of 2.12 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during 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%. Starbucks’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 EPS. On average, equities analysts expect that Starbucks Co. will post 3.55 EPS for the current year.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the business’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 acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SBUX. Wedbush reiterated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. Bank of America lifted their price target on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.16.

Starbucks 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.