Starbucks Co. (NASDAQ:SBUX) Shares Sold by Compass Ion Advisors LLC

Compass Ion Advisors LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 10.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,031 shares of the coffee company’s stock after selling 727 shares during the period. Compass Ion Advisors LLC’s holdings in Starbucks were worth $588,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the 2nd quarter worth approximately $25,000. New Millennium Group LLC purchased a new position in shares of Starbucks in the 2nd quarter valued at $26,000. Stephens Consulting LLC lifted its holdings in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Starbucks during the 2nd quarter worth $27,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Starbucks in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.6 %

SBUX stock traded up $1.57 during trading on Friday, hitting $96.84. The company had a trading volume of 6,178,250 shares, compared to its average volume of 11,404,794. The business has a 50 day moving average of $94.90 and a 200 day moving average of $84.70. The firm has a market capitalization of $109.69 billion, a price-to-earnings ratio of 26.68, a P/E/G ratio of 2.08 and a beta of 0.97. 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 quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the firm posted $1.00 earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, equities analysts predict that Starbucks Co. will post 3.55 EPS for the current year.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was 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 $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SBUX shares. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Wedbush reissued a “neutral” rating and set a $80.00 target price on shares of Starbucks in a research report on Tuesday, August 13th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Two 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 company. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price 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.