New Century Financial Group LLC Sells 427 Shares of Starbucks Co. (NASDAQ:SBUX)

New Century Financial Group LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,169 shares of the coffee company’s stock after selling 427 shares during the quarter. New Century Financial Group LLC’s holdings in Starbucks were worth $699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Riverview Trust Co increased its holdings in shares of Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after purchasing an additional 105 shares in the last quarter. Astoria Portfolio Advisors LLC. raised its position in Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after buying an additional 127 shares during the last quarter. Keystone Wealth Services LLC lifted its position in Starbucks by 1.3% during the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock valued at $990,000 after purchasing an additional 130 shares during the period. Chicago Capital LLC boosted its holdings in Starbucks by 0.6% in the third quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock worth $2,060,000 after purchasing an additional 132 shares during the last quarter. Finally, M&R Capital Management Inc. grew its position in Starbucks by 30.9% in the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after purchasing an additional 134 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $96.84 on Friday. The stock has a market capitalization of $109.69 billion, a PE ratio of 26.68, a P/E/G ratio of 2.08 and a beta of 0.97. The company’s fifty day moving average is $94.90 and its 200 day moving average is $84.70. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting 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 the consensus estimate of $9.25 billion. During the same period in the previous year, the firm posted $1.00 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SBUX. Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $102.44.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value 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. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

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.