Mercer Global Advisors Inc. ADV Has $18.32 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Mercer Global Advisors Inc. ADV cut its stake in Starbucks Co. (NASDAQ:SBUX) by 11.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 235,333 shares of the coffee company’s stock after selling 29,645 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Starbucks were worth $18,321,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Gryphon Financial Partners LLC lifted its position in shares of Starbucks by 96.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock valued at $508,000 after purchasing an additional 2,558 shares in the last quarter. TrinityPoint Wealth LLC purchased a new stake in Starbucks in the 4th quarter valued at about $230,000. Hillsdale Investment Management Inc. lifted its position in shares of Starbucks by 5.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,269 shares of the coffee company’s stock worth $314,000 after buying an additional 180 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Starbucks by 14.5% in the 4th quarter. Assetmark Inc. now owns 95,372 shares of the coffee company’s stock worth $9,157,000 after buying an additional 12,089 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Starbucks by 2.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 12,697 shares of the coffee company’s stock valued at $1,219,000 after acquiring an additional 324 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The shares were 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 approximately $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of several research analyst reports. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research report on Wednesday, August 21st. BMO Capital Markets lifted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. 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 report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.08.

Starbucks Stock Down 0.3 %

Starbucks stock opened at $96.12 on Thursday. The firm has a fifty day simple moving average of $85.77 and a two-hundred day simple moving average of $83.98. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a market capitalization of $108.92 billion, a PE ratio of 26.48, a P/E/G ratio of 2.38 and a beta of 0.96.

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, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

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.