Sanders Morris Harris LLC Decreases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Sanders Morris Harris LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,203 shares of the coffee company’s stock after selling 160 shares during the quarter. Sanders Morris Harris LLC’s holdings in Starbucks were worth $507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Starbucks by 0.4% in the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after buying an additional 470,498 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Starbucks by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock valued at $1,090,654,000 after purchasing an additional 260,489 shares during the period. Legal & General Group Plc boosted its holdings in Starbucks by 2.6% in the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares during the period. Flossbach Von Storch AG boosted its holdings in Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Starbucks by 5.2% in the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock valued at $495,145,000 after purchasing an additional 266,570 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

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 stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’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 sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. 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 currently owned by insiders.

Starbucks Stock Down 0.3 %

Shares of SBUX stock opened at $95.88 on Thursday. The stock has a market capitalization of $108.65 billion, a PE ratio of 26.41, a price-to-earnings-growth 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. The stock’s 50-day moving average price is $92.09 and its 200 day moving average price is $84.48.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.16.

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.