Paces Ferry Wealth Advisors LLC Has $503,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Paces Ferry Wealth Advisors LLC trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 19.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,458 shares of the coffee company’s stock after selling 1,567 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in Starbucks were worth $503,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cox Capital Mgt LLC increased its position in Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares during the period. Brevan Howard Capital Management LP acquired a new position in Starbucks in the fourth quarter valued at approximately $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new position in Starbucks in the fourth quarter valued at approximately $31,246,000. Fidelis Capital Partners LLC grew its holdings in Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after acquiring an additional 1,751 shares during the period. Finally, Bell & Brown Wealth Advisors LLC bought a new stake in shares of Starbucks during the 4th quarter valued at $4,048,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent research reports. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Bank of America boosted their price objective on shares of Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.08.

Starbucks Stock Down 0.3 %

SBUX stock opened at $96.12 on Thursday. The company’s 50-day moving average price is $85.77 and its two-hundred day moving average price is $83.98. The firm has a market cap of $108.92 billion, a P/E ratio of 26.48, a P/E/G ratio of 2.38 and a beta of 0.96. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the company earned $1.00 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts predict that Starbucks Co. will post 3.56 EPS for the current year.

Insider Activity

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were 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 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.