Starbucks Co. (NASDAQ:SBUX) Shares Sold by Rathbones Group PLC

Rathbones Group PLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 34.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,010 shares of the coffee company’s stock after selling 23,447 shares during the period. Rathbones Group PLC’s holdings in Starbucks were worth $3,426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SBUX. Norges Bank acquired a new position in Starbucks in the 4th quarter valued at $1,240,652,000. Ontario Teachers Pension Plan Board acquired a new position in Starbucks in the first quarter valued at $415,167,000. Diamond Hill Capital Management Inc. purchased a new position in Starbucks during the second quarter worth about $243,910,000. Flossbach Von Storch AG boosted its stake in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Finally, Capital World Investors purchased a new stake in Starbucks in the 1st quarter valued at about $257,721,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SBUX shares. Wedbush reissued a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lowered their price objective on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research report on Wednesday, August 21st. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.83.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’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 completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Starbucks Trading Down 0.7 %

SBUX stock opened at $98.57 on Monday. The company has a market capitalization of $111.70 billion, a P/E ratio of 27.15, a PEG ratio of 2.38 and a beta of 0.96. The firm has a 50 day simple moving average of $84.39 and a 200-day simple moving average of $83.86. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last released 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. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 EPS. On average, research analysts predict that Starbucks Co. will post 3.56 EPS 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.