Starbucks Co. (NASDAQ:SBUX) Shares Sold by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,383 shares of the coffee company’s stock after selling 1,540 shares during the period. Chesley Taft & Associates LLC’s holdings in Starbucks were worth $6,667,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cox Capital Mgt LLC raised its stake in shares of Starbucks by 41.9% in the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after purchasing an additional 13,372 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in Starbucks during the fourth quarter valued at approximately $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new stake in Starbucks during the fourth quarter valued at approximately $31,246,000. Fidelis Capital Partners LLC lifted its holdings in Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares during the last quarter. Finally, TKG Advisors LLC grew its position in shares of Starbucks by 4.6% in the 4th quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock worth $1,873,000 after acquiring an additional 860 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. BMO Capital Markets upped their price target on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.12.

Starbucks Price Performance

NASDAQ SBUX opened at $96.09 on Tuesday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The firm has a market capitalization of $108.84 billion, a PE ratio of 26.47, a P/E/G ratio of 2.12 and a beta of 0.97. The company’s 50 day simple moving average is $90.91 and its 200 day simple moving average is $84.33.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate 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%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm earned $1.00 EPS. Sell-side analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’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 sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

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.