Exchange Traded Concepts LLC Sells 5,381 Shares of Starbucks Co. (NASDAQ:SBUX)

Exchange Traded Concepts LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 45.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,344 shares of the coffee company’s stock after selling 5,381 shares during the period. Exchange Traded Concepts LLC’s holdings in Starbucks were worth $618,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kapitalo Investimentos Ltda boosted its position in Starbucks by 51.1% during the fourth quarter. Kapitalo Investimentos Ltda now owns 615 shares of the coffee company’s stock valued at $59,000 after acquiring an additional 208 shares during the last quarter. RFG Advisory LLC grew its stake in Starbucks by 5.2% during the first quarter. RFG Advisory LLC now owns 10,353 shares of the coffee company’s stock worth $946,000 after purchasing an additional 513 shares during the period. Sanders Morris Harris LLC increased its holdings in Starbucks by 7.3% in the first quarter. Sanders Morris Harris LLC now owns 5,363 shares of the coffee company’s stock worth $490,000 after purchasing an additional 363 shares in the last quarter. &PARTNERS increased its holdings in Starbucks by 31.1% in the first quarter. &PARTNERS now owns 14,012 shares of the coffee company’s stock worth $1,281,000 after purchasing an additional 3,325 shares in the last quarter. Finally, City State Bank lifted its stake in Starbucks by 17.3% in the first quarter. City State Bank now owns 6,314 shares of the coffee company’s stock valued at $577,000 after buying an additional 930 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. BTIG Research lifted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets upped their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.44.

Starbucks Trading Up 1.6 %

Shares of SBUX opened at $96.84 on Friday. The stock has a 50 day moving average of $94.90 and a 200 day moving average of $84.73. The company has a market capitalization of $109.69 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 2.08 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

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

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated 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 approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

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.