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

Invesco LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 8.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,059 shares of the coffee company’s stock after selling 845 shares during the quarter. Invesco LLC’s holdings in Starbucks were worth $705,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. LGT Fund Management Co Ltd. bought a new position in shares of Starbucks during the second quarter worth about $550,000. Longfellow Investment Management Co. LLC boosted its stake in Starbucks by 31.9% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 8,112 shares of the coffee company’s stock valued at $632,000 after purchasing an additional 1,961 shares during the period. United Services Automobile Association boosted its stake in Starbucks by 48.4% during the 2nd quarter. United Services Automobile Association now owns 236,054 shares of the coffee company’s stock valued at $18,377,000 after purchasing an additional 77,041 shares during the period. Liberty Wealth Management LLC grew its position in Starbucks by 68.1% in the 2nd quarter. Liberty Wealth Management LLC now owns 7,510 shares of the coffee company’s stock worth $585,000 after purchasing an additional 3,042 shares during the last quarter. Finally, Choreo LLC raised its holdings in shares of Starbucks by 95.3% during the second quarter. Choreo LLC now owns 54,861 shares of the coffee company’s stock valued at $4,235,000 after buying an additional 26,775 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’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 value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were 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 $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders sold 9,790 shares of company stock valued at $865,514 over the last three months. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $92.21 on Tuesday. The firm has a 50 day simple moving average of $82.71 and a 200 day simple moving average of $83.77. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The company has a market cap of $104.45 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the business earned $1.00 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts predict that Starbucks Co. will post 3.56 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SBUX shares. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $98.00 price objective on shares of Starbucks in a report on Wednesday, July 31st. Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. Finally, The Goldman Sachs Group started coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price on the stock. One 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

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.