Northstar Group Inc. Trims Holdings in Starbucks Co. (NASDAQ:SBUX)

Northstar Group Inc. lowered its position in Starbucks Co. (NASDAQ:SBUX) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,689 shares of the coffee company’s stock after selling 681 shares during the period. Starbucks makes up approximately 1.1% of Northstar Group Inc.’s investment portfolio, making the stock its 19th largest holding. Northstar Group Inc.’s holdings in Starbucks were worth $6,501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cresset Asset Management LLC increased its holdings in shares of Starbucks by 1.6% during the 4th quarter. Cresset Asset Management LLC now owns 124,546 shares of the coffee company’s stock valued at $11,958,000 after purchasing an additional 1,969 shares in the last quarter. Visionary Wealth Advisors raised its holdings in Starbucks by 2.6% in the 4th quarter. Visionary Wealth Advisors now owns 5,575 shares of the coffee company’s stock worth $535,000 after purchasing an additional 143 shares during the period. Hancock Whitney Corp boosted its position in Starbucks by 450.8% during the fourth quarter. Hancock Whitney Corp now owns 51,582 shares of the coffee company’s stock worth $4,952,000 after purchasing an additional 42,217 shares in the last quarter. Jacobi Capital Management LLC grew its holdings in Starbucks by 1.3% in the fourth quarter. Jacobi Capital Management LLC now owns 15,735 shares of the coffee company’s stock valued at $1,511,000 after purchasing an additional 199 shares during the period. Finally, Creative Planning raised its stake in shares of Starbucks by 0.5% during the 4th quarter. Creative Planning now owns 434,071 shares of the coffee company’s stock worth $41,675,000 after buying an additional 2,115 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on SBUX. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Barclays boosted their price objective on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Two equities research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.16.

Starbucks Stock Performance

SBUX stock traded down $1.34 during midday trading on Thursday, reaching $94.54. 282,950 shares of the company were exchanged, compared to its average volume of 11,551,422. The stock’s 50-day simple moving average is $92.09 and its 200 day simple moving average is $84.48. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The company has a market cap of $107.13 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97.

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

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now 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. Corporate insiders own 1.98% of the company’s stock.

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.