Seven Eight Capital LP lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 80.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,333 shares of the coffee company’s stock after selling 47,393 shares during the period. Seven Eight Capital LP’s holdings in Starbucks were worth $882,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of SBUX. Cox Capital Mgt LLC grew its stake in Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after purchasing an additional 13,372 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Starbucks during the 4th quarter worth approximately $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new stake in Starbucks in the fourth quarter valued at approximately $31,246,000. Fidelis Capital Partners LLC grew its holdings in Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter worth $4,048,000. Institutional investors own 72.29% of the company’s stock.
Insider Buying and Selling
In related news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred 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 purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on SBUX
Starbucks Stock Down 0.9 %
NASDAQ:SBUX opened at $96.05 on Friday. 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 $86.67 and its 200-day moving average price is $84.09. The stock has a market capitalization of $108.84 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96.
Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. Sell-side analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.
Starbucks Company 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.
Read More
- Five stocks we like better than Starbucks
- Want to Profit on the Downtrend? Downtrends, Explained.
- Analysts Predict 85% Upside for Wave Life Sciences After Rate Cut
- What Investors Need to Know to Beat the Market
- FedEx Stock Dips: Another Reason to Fear Recession Is Near
- What Makes a Stock a Good Dividend Stock?
- The Half-Penny Revolution: Will SEC’s Reform Benefit Investors?
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX – Free Report).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.