Starbucks Co. (NASDAQ:SBUX) Shares Sold by Tsfg LLC

Tsfg LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,884 shares of the coffee company’s stock after selling 274 shares during the period. Tsfg LLC’s holdings in Starbucks were worth $476,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter worth about $25,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter worth approximately $26,000. New Millennium Group LLC bought a new position in Starbucks in the 2nd quarter worth approximately $26,000. Stephens Consulting LLC increased its position 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 acquiring an additional 279 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Starbucks during the second quarter valued at about $27,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 0.3 %

SBUX stock opened at $95.04 on Wednesday. The firm has a 50 day moving average of $93.67 and a two-hundred day moving average of $84.54. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a market capitalization of $107.65 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 2.06 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 net margin of 11.16% and a negative return on equity of 49.38%. The firm 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 company posted $1.00 earnings per share. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research analyst reports. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Morgan Stanley upped their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research report on Wednesday, August 21st. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.84.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value 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 represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $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. 1.98% of the stock is currently owned by insiders.

Starbucks 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.