Sugarloaf Wealth Management LLC Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

Sugarloaf Wealth Management LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 14.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,536 shares of the coffee company’s stock after selling 258 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Starbucks were worth $150,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the second quarter worth about $25,000. Vima LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $26,000. New Millennium Group LLC acquired a new position in Starbucks during the second quarter valued at approximately $26,000. Finally, Stephens Consulting LLC grew its stake in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Thursday, September 12th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. BMO Capital Markets boosted their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Finally, DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $101.16.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Up 0.1 %

SBUX opened at $96.21 on Wednesday. The company’s 50-day moving average price is $91.33 and its 200 day moving average price is $84.36. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm has a market cap of $108.98 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97.

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