Moss Adams Wealth Advisors LLC Acquires 1,342 Shares of Starbucks Co. (NASDAQ:SBUX)

Moss Adams Wealth Advisors LLC lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 19.0% in the third quarter, HoldingsChannel reports. The fund owned 8,410 shares of the coffee company’s stock after buying an additional 1,342 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Starbucks were worth $820,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Kapitalo Investimentos Ltda grew its position in Starbucks by 51.1% during the 4th quarter. Kapitalo Investimentos Ltda now owns 615 shares of the coffee company’s stock worth $59,000 after acquiring an additional 208 shares during the last quarter. RFG Advisory LLC boosted its stake in shares of Starbucks by 5.2% during the first quarter. RFG Advisory LLC now owns 10,353 shares of the coffee company’s stock valued at $946,000 after purchasing an additional 513 shares during the period. Sanders Morris Harris LLC grew its holdings in shares of Starbucks by 7.3% in the first quarter. Sanders Morris Harris LLC now owns 5,363 shares of the coffee company’s stock worth $490,000 after purchasing an additional 363 shares during the last quarter. &PARTNERS increased its stake in shares of Starbucks by 31.1% in the first quarter. &PARTNERS now owns 14,012 shares of the coffee company’s stock worth $1,281,000 after buying an additional 3,325 shares during the period. Finally, City State Bank raised its holdings in Starbucks by 17.3% during the 1st quarter. City State Bank now owns 6,314 shares of the coffee company’s stock valued at $577,000 after buying an additional 930 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was 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 document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, August 21st. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Thursday, September 12th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and upped their target price for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, BMO Capital Markets lifted their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.44.

Starbucks Price Performance

SBUX stock opened at $96.84 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The stock has a market capitalization of $109.69 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.08 and a beta of 0.97. The business has a fifty day moving average price of $94.90 and a 200-day moving average price of $84.73.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the business earned $1.00 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

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.