Optimum Investment Advisors Sells 2,295 Shares of Starbucks Co. (NASDAQ:SBUX)

Optimum Investment Advisors trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 35.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,119 shares of the coffee company’s stock after selling 2,295 shares during the period. Optimum Investment Advisors’ holdings in Starbucks were worth $402,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SBUX. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the second quarter worth approximately $25,000. New Millennium Group LLC bought a new position in Starbucks during the second quarter valued at approximately $26,000. Stephens Consulting LLC grew its position in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Starbucks during the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC bought a new position in Starbucks during the second quarter valued at approximately $31,000. 72.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. 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 is available through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on SBUX shares. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Thursday, September 12th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and reduced their price target for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Citigroup increased their price objective on Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Finally, Baird R W raised 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.44.

Starbucks Trading Down 0.2 %

Shares of Starbucks stock opened at $95.27 on Friday. The firm has a market capitalization of $107.96 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.08 and a beta of 0.97. The business has a fifty day simple moving average of $94.47 and a two-hundred day simple moving average of $84.69. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate 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 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 quarter last year, the firm posted $1.00 earnings per share. Analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

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.