Starbucks Co. (NASDAQ:SBUX) Shares Sold by Creative Planning

Creative Planning reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 417,681 shares of the coffee company’s stock after selling 21,008 shares during the period. Creative Planning’s holdings in Starbucks were worth $40,651,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Grove Bank & Trust lifted its position in shares of Starbucks by 21.3% during the third quarter. Grove Bank & Trust now owns 1,401 shares of the coffee company’s stock worth $137,000 after purchasing an additional 246 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Starbucks during the third quarter worth $195,000. Procyon Advisors LLC lifted its position in shares of Starbucks by 13.3% during the third quarter. Procyon Advisors LLC now owns 38,924 shares of the coffee company’s stock worth $3,795,000 after purchasing an additional 4,559 shares in the last quarter. Paladin Wealth LLC acquired a new stake in Starbucks in the third quarter valued at $734,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Starbucks by 8.4% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 18,286 shares of the coffee company’s stock valued at $1,783,000 after acquiring an additional 1,415 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 1.6 %

SBUX stock opened at $96.84 on Friday. The company has a market capitalization of $109.69 billion, a P/E ratio of 26.68, a PEG ratio of 2.08 and a beta of 0.97. The company has a 50-day simple moving average of $94.90 and a 200 day simple moving average of $84.70. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting 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 net margin of 11.16% and a negative return on equity of 49.38%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. Equities analysts anticipate that Starbucks Co. will post 3.55 EPS for the current year.

Insider Buying and Selling

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 Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. 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, 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 transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent analyst reports. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and cut their price target for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Barclays upped their price target on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.44.

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.