Starbucks Co. (NASDAQ:SBUX) Shares Sold by Bennett Selby Investments LP

Bennett Selby Investments LP lowered its position in Starbucks Co. (NASDAQ:SBUX) by 1.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,842 shares of the coffee company’s stock after selling 638 shares during the period. Starbucks comprises approximately 1.7% of Bennett Selby Investments LP’s investment portfolio, making the stock its 13th biggest position. Bennett Selby Investments LP’s holdings in Starbucks were worth $4,079,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SBUX. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks in the second quarter worth about $25,000. Vima LLC purchased a new stake in shares of Starbucks during the fourth quarter worth about $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the fourth quarter worth about $26,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the second quarter worth about $26,000. Finally, Stephens Consulting LLC increased its stake in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SBUX shares. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Citigroup upped their price objective on shares of Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $101.16.

Starbucks Stock Up 1.8 %

Shares of NASDAQ SBUX opened at $95.55 on Friday. The company has a market cap of $108.28 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 2.11 and a beta of 0.97. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm’s 50-day simple moving average is $92.86 and its 200 day simple moving average is $84.58.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. On average, equities analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the 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 owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Jorgen Vig Knudstorp acquired 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, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the 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 owns 75,054 shares in the company, valued at $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 insiders.

About Starbucks

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.