Investment Advisory Group LLC Sells 189 Shares of Starbucks Co. (NASDAQ:SBUX)

Investment Advisory Group LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,396 shares of the coffee company’s stock after selling 189 shares during the period. Investment Advisory Group LLC’s holdings in Starbucks were worth $234,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of 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 valued at $4,142,000 after buying an additional 13,372 shares during the period. Fidelis Capital Partners LLC lifted its stake in shares of Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after buying an additional 1,751 shares during the period. AMI Asset Management Corp lifted 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 valued at $33,384,000 after buying an additional 10,092 shares during the period. LRI Investments LLC bought a new stake in shares of Starbucks in the first quarter valued at about $136,000. Finally, BNP Paribas bought a new stake in shares of Starbucks in the first quarter valued at about $9,332,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SBUX shares. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Citigroup increased their price target on shares of Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Finally, Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have given 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, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $101.16.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s 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 transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now 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 disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.3 %

Shares of Starbucks stock traded up $0.28 during midday trading on Tuesday, reaching $95.04. The company had a trading volume of 6,156,094 shares, compared to its average volume of 11,479,788. The company has a market capitalization of $107.65 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The stock has a fifty day simple moving average of $93.28 and a 200 day simple moving average of $84.52. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

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, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the firm earned $1.00 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

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.