Starbucks Co. (NASDAQ:SBUX) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 19.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,753 shares of the coffee company’s stock after selling 11,139 shares during the period. Park Avenue Securities LLC’s holdings in Starbucks were worth $4,558,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the 2nd quarter valued at $25,000. Vima LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at about $26,000. Scarborough Advisors LLC acquired a new stake in Starbucks during the fourth quarter worth about $26,000. New Millennium Group LLC purchased a new position in Starbucks during the second quarter worth about $26,000. Finally, Stephens Consulting LLC boosted its holdings in Starbucks by 498.2% in the 2nd 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 last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SBUX. BMO Capital Markets raised their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. 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. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.12.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’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 sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade 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 can be accessed through this link. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $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 Stock Performance

Shares of NASDAQ:SBUX traded up $1.02 during trading hours on Friday, reaching $96.58. The stock had a trading volume of 6,819,465 shares, compared to its average volume of 11,699,863. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm’s 50 day moving average is $90.91 and its 200-day moving average is $84.44. The stock has a market capitalization of $109.40 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 2.33 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm earned $1.00 earnings per share. Analysts forecast that Starbucks Co. will post 3.56 EPS 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.