Starbucks Co. (NASDAQ:SBUX) Shares Sold by Delap Wealth Advisory LLC

Delap Wealth Advisory LLC trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 61.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,167 shares of the coffee company’s stock after selling 6,736 shares during the period. Delap Wealth Advisory LLC’s holdings in Starbucks were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Vima LLC acquired a new stake in Starbucks during the fourth quarter worth about $26,000. Scarborough Advisors LLC acquired a new stake in Starbucks during the fourth quarter worth about $26,000. New Millennium Group LLC acquired a new stake in Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC grew its holdings in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the period. Finally, DSM Capital Partners LLC acquired a new stake in Starbucks in the fourth quarter valued at approximately $27,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was acquired 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 of the company’s stock, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was acquired 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 of the company’s stock, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on 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 $5,697,682.32. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SBUX. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price objective on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Finally, Morgan Stanley restated an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.08.

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 company has a market capitalization of $108.84 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.31 and a beta of 0.96. The stock’s fifty day moving average is $86.67 and its two-hundred day moving average is $84.04.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

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.