Profund Advisors LLC Sells 5,602 Shares of Starbucks Co. (NASDAQ:SBUX)

Profund Advisors LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 5.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,000 shares of the coffee company’s stock after selling 5,602 shares during the quarter. Profund Advisors LLC’s holdings in Starbucks were worth $8,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc lifted its position in Starbucks by 7.9% during the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after purchasing an additional 122 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its holdings in shares of Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after acquiring an additional 127 shares during the last quarter. Carolinas Wealth Consulting LLC grew its position in Starbucks by 4.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock worth $275,000 after acquiring an additional 133 shares in the last quarter. Edge Capital Group LLC increased its stake in Starbucks by 3.4% during the fourth quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after acquiring an additional 134 shares during the last quarter. Finally, M&R Capital Management Inc. raised its position in Starbucks by 30.9% during the second quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after purchasing an additional 134 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was 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 owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, 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.

Starbucks Stock Down 0.9 %

Shares of NASDAQ:SBUX opened at $96.05 on Friday. The company has a market capitalization of $108.84 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. The firm has a 50 day moving average of $86.67 and a 200 day moving average of $84.04. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the company posted $1.00 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts expect that Starbucks Co. will post 3.56 EPS for the current year.

Analyst Ratings Changes

SBUX has been the topic of several recent research reports. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Barclays increased their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, The Goldman Sachs Group began coverage on Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.08.

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.