Starbucks Co. (NASDAQ:SBUX) Stock Holdings Cut by Horst & Graben Wealth Management LLC

Horst & Graben Wealth Management LLC lessened its position in Starbucks Co. (NASDAQ:SBUX) by 2.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,306 shares of the coffee company’s stock after selling 111 shares during the period. Horst & Graben Wealth Management LLC’s holdings in Starbucks were worth $517,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks in the second quarter worth about $25,000. New Millennium Group LLC acquired a new stake in Starbucks during the second quarter valued at approximately $26,000. Stephens Consulting LLC boosted its holdings in 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 buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks in the second quarter worth approximately $27,000. Finally, Olistico Wealth LLC bought a new position in shares of Starbucks in the second quarter valued at $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $96.45 on Tuesday. The stock has a market capitalization of $109.25 billion, a P/E ratio of 26.57, a P/E/G ratio of 2.14 and a beta of 0.97. The business has a 50-day moving average of $95.29 and a two-hundred day moving average of $84.73. 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 the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the company earned $1.00 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing 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 shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, 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 disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on SBUX. BTIG Research raised their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Citigroup increased their price target on Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Bank of America boosted their price target on shares of Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Two investment 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.44.

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.