Starbucks Co. (NASDAQ:SBUX) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,582 shares of the coffee company’s stock after selling 978 shares during the quarter. Capital Investment Advisors LLC’s holdings in Starbucks were worth $1,246,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Gradient Investments LLC grew its stake in shares of Starbucks by 3.3% in the second quarter. Gradient Investments LLC now owns 171,187 shares of the coffee company’s stock valued at $16,958,000 after buying an additional 5,470 shares in the last quarter. Mechanics Bank Trust Department boosted its holdings in Starbucks by 7.6% during the 2nd quarter. Mechanics Bank Trust Department now owns 10,903 shares of the coffee company’s stock valued at $1,080,000 after acquiring an additional 767 shares during the period. Sanders Morris Harris LLC acquired a new position in Starbucks in the 2nd quarter valued at about $532,000. Allied Investment Advisors LLC increased its stake in Starbucks by 9.9% during the second quarter. Allied Investment Advisors LLC now owns 7,630 shares of the coffee company’s stock worth $756,000 after purchasing an additional 690 shares during the period. Finally, Level Four Advisory Services LLC lifted its position in shares of Starbucks by 2.9% during the second quarter. Level Four Advisory Services LLC now owns 9,945 shares of the coffee company’s stock worth $985,000 after purchasing an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 70.13% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 679 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total transaction of $68,307.40. Following the transaction, the chief financial officer now directly owns 54,761 shares in the company, valued at $5,508,956.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.98% of the stock is owned by company insiders.

Starbucks Price Performance

Shares of SBUX opened at $96.76 on Tuesday. Starbucks Co. has a 1-year low of $82.43 and a 1-year high of $115.48. The stock has a market cap of $110.83 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. The firm has a fifty day moving average price of $99.19 and a 200 day moving average price of $101.43.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, August 1st. The coffee company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. The business had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 44.46% and a net margin of 10.81%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. As a group, equities analysts expect that Starbucks Co. will post 3.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. TD Cowen restated an “outperform” rating and issued a $117.00 price objective on shares of Starbucks in a report on Wednesday, August 2nd. Barclays cut their price objective on Starbucks from $127.00 to $123.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 2nd. StockNews.com started coverage on Starbucks in a report on Thursday, August 17th. They issued a “buy” rating for the company. Stifel Nicolaus cut their price target on Starbucks from $117.00 to $110.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. Finally, Citigroup decreased their price objective on Starbucks from $117.00 to $112.00 and set a “neutral” rating for the company in a research note on Monday, July 24th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.24.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.