Starbucks Co. (NASDAQ:SBUX) Shares Sold by Kennon Green & Company LLC

Kennon Green & Company LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,127 shares of the coffee company’s stock after selling 2,963 shares during the quarter. Starbucks accounts for about 1.9% of Kennon Green & Company LLC’s holdings, making the stock its 21st biggest position. Kennon Green & Company LLC’s holdings in Starbucks were worth $2,034,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. Vima LLC purchased a new stake in shares of Starbucks during the 4th quarter worth $26,000. DSM Capital Partners LLC acquired a new position in shares of Starbucks during the 4th quarter worth $27,000. Fairman Group LLC purchased a new position in shares of Starbucks in the 4th quarter valued at about $30,000. Finally, Raleigh Capital Management Inc. boosted its holdings in Starbucks by 150.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 198 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SBUX shares. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Thursday. Citigroup upped their target price on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Bank of America lifted their target price on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $99.83.

Starbucks Stock Performance

SBUX opened at $98.57 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company’s 50 day simple moving average is $84.39 and its 200 day simple moving average is $83.92. The stock has a market capitalization of $111.65 billion, a PE ratio of 27.15, a P/E/G ratio of 2.35 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced 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 analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business earned $1.00 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated 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 of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s 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 transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was 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. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

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.