Starbucks Co. (NASDAQ:SBUX) Stock Position Trimmed by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,094 shares of the coffee company’s stock after selling 2,815 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Starbucks were worth $5,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Thrive Wealth Management LLC lifted its position in Starbucks by 17.0% in the third quarter. Thrive Wealth Management LLC now owns 4,236 shares of the coffee company’s stock worth $413,000 after purchasing an additional 615 shares during the period. Rockland Trust Co. raised its stake in shares of Starbucks by 4.2% in the 3rd quarter. Rockland Trust Co. now owns 275,349 shares of the coffee company’s stock worth $26,844,000 after buying an additional 11,032 shares in the last quarter. Alpha Omega Wealth Management LLC acquired a new stake in shares of Starbucks in the third quarter valued at $212,000. Bright Rock Capital Management LLC bought a new position in Starbucks during the third quarter valued at about $9,749,000. Finally, Curbstone Financial Management Corp grew its holdings in Starbucks by 1.9% during the third quarter. Curbstone Financial Management Corp now owns 12,510 shares of the coffee company’s stock worth $1,220,000 after acquiring an additional 230 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SBUX. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and reduced their target price for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. BMO Capital Markets lifted their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Finally, Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.12.

Insider Buying and Selling

In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction 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 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. This trade represents a 0.00 % decrease in their position. 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 stock in a transaction that occurred on 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 directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Price Performance

Shares of Starbucks stock traded up $1.02 during trading on Friday, hitting $96.58. 6,819,465 shares of the company’s stock traded hands, compared to its average volume of 11,699,863. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a market cap of $109.40 billion, a PE ratio of 26.61, a PEG ratio of 2.33 and a beta of 0.97. The firm’s fifty day moving average price is $90.91 and its 200 day moving average price is $84.44.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the firm posted $1.00 EPS. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current 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.