Founders Financial Alliance LLC Sells 2,546 Shares of Starbucks Co. (NASDAQ:SBUX)

Founders Financial Alliance LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 18.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,288 shares of the coffee company’s stock after selling 2,546 shares during the quarter. Founders Financial Alliance LLC’s holdings in Starbucks were worth $879,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Ontario Teachers Pension Plan Board purchased a new position in shares of Starbucks during the 1st quarter valued at $415,167,000. Marshall Wace LLP grew its position in Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after acquiring an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in Starbucks in the second quarter worth $243,910,000. Flossbach Von Storch AG grew its position in Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Finally, Capital World Investors bought a new stake in Starbucks in the first quarter worth $257,721,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $97.49 on Tuesday. The stock has a market cap of $110.43 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm’s 50-day simple moving average is $89.16 and its two-hundred day simple moving average is $84.19.

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

Insider Activity

In other news, CEO Rachel Ruggeri sold 3,290 shares of the 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 sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were bought 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 disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on SBUX shares. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. Finally, Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.12.

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.