Starbucks Co. (NASDAQ:SBUX) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 62.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,134 shares of the coffee company’s stock after selling 34,717 shares during the period. Moors & Cabot Inc.’s holdings in Starbucks were worth $1,645,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC grew its holdings in Starbucks by 96.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock valued at $508,000 after buying an additional 2,558 shares during the last quarter. TrinityPoint Wealth LLC purchased a new stake in Starbucks during the 4th quarter worth about $230,000. Hillsdale Investment Management Inc. raised its stake in Starbucks by 5.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 3,269 shares of the coffee company’s stock valued at $314,000 after purchasing an additional 180 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Starbucks by 24.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,646,580 shares of the coffee company’s stock valued at $158,088,000 after purchasing an additional 322,002 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Starbucks in the 4th quarter valued at about $1,030,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Up 0.1 %

Shares of NASDAQ:SBUX opened at $96.44 on Wednesday. The company has a fifty day simple moving average of $85.30 and a 200 day simple moving average of $83.89. The firm has a market cap of $109.29 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

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, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during 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%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Jefferies Financial Group cut their price target on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target 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.