Prime Capital Investment Advisors LLC Has $9.90 Million Position in Starbucks Co. (NASDAQ:SBUX)

Prime Capital Investment Advisors LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 36.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,214 shares of the coffee company’s stock after selling 74,325 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Starbucks were worth $9,904,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vima LLC bought a new stake in Starbucks during the fourth quarter worth about $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. New Millennium Group LLC bought a new stake in shares of Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC boosted its holdings in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the last quarter. Finally, DSM Capital Partners LLC bought a new position in shares of Starbucks in the fourth quarter valued at $27,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 0.7 %

SBUX stock opened at $98.57 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The business has a 50-day simple moving average of $84.39 and a 200 day simple moving average of $83.92. The company has a market cap of $111.65 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 2.35 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 EPS. On average, analysts anticipate that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Analysts Set New Price Targets

SBUX has been the subject of a number of recent analyst reports. The Goldman Sachs Group began coverage on shares of Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. Morgan Stanley reiterated an “overweight” rating and set a $98.00 price target on shares of Starbucks in a report on Wednesday, July 31st. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Jefferies Financial Group cut their price objective on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred 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 directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.