Martel Wealth Advisors Inc Sells 813 Shares of Starbucks Co. (NASDAQ:SBUX)

Martel Wealth Advisors Inc trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 28.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,071 shares of the coffee company’s stock after selling 813 shares during the period. Martel Wealth Advisors Inc’s holdings in Starbucks were worth $200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cox Capital Mgt LLC lifted its stake in shares of Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after buying an additional 13,372 shares during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new position in Starbucks during the 4th quarter worth $31,246,000. Fidelis Capital Partners LLC boosted its holdings in Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after acquiring an additional 1,751 shares during the period. TKG Advisors LLC grew its position in shares of Starbucks by 4.6% in the fourth quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock valued at $1,873,000 after purchasing an additional 860 shares during the last quarter. Finally, AMI Asset Management Corp increased its stake in shares of Starbucks by 2.8% in the first quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after purchasing an additional 10,092 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SBUX shares. Barclays raised their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Citigroup boosted their target price on shares of Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.16.

Starbucks Trading Up 1.8 %

NASDAQ:SBUX opened at $95.55 on Friday. The stock has a market capitalization of $108.28 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 2.11 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a 50 day moving average of $92.86 and a 200-day moving average of $84.58.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, analysts forecast that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on 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 in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’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 sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate 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.