Spectrum Wealth Counsel LLC Sells 972 Shares of Starbucks Co. (NASDAQ:SBUX)

Spectrum Wealth Counsel LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 69.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 431 shares of the coffee company’s stock after selling 972 shares during the period. Spectrum Wealth Counsel LLC’s holdings in Starbucks were worth $34,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SBUX. Norges Bank bought a new stake in shares of Starbucks during the 4th quarter valued at about $1,240,652,000. Ontario Teachers Pension Plan Board purchased a new stake in Starbucks in the first quarter worth about $415,167,000. Diamond Hill Capital Management Inc. bought a new stake in Starbucks during the 2nd quarter valued at approximately $243,910,000. Flossbach Von Storch AG grew its holdings in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares during the period. Finally, Capital World Investors bought a new position in shares of Starbucks in the 1st quarter worth approximately $257,721,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of several research reports. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Jefferies Financial Group decreased their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $99.83.

Starbucks Trading Down 0.7 %

Shares of SBUX opened at $98.57 on Monday. The business’s fifty day simple moving average is $84.39 and its two-hundred day simple moving average is $83.86. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a market cap of $111.70 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 2.38 and a beta of 0.96.

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

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.