Capital Impact Advisors LLC lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) by 40.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,748 shares of the coffee company’s stock after selling 1,829 shares during the quarter. Capital Impact Advisors LLC’s holdings in Starbucks were worth $232,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Smith Moore & CO. increased its holdings in Starbucks by 2.1% in the 3rd quarter. Smith Moore & CO. now owns 5,062 shares of the coffee company’s stock worth $426,000 after acquiring an additional 106 shares in the last quarter. Pensionmark Financial Group LLC raised its position in shares of Starbucks by 4.4% during the 3rd quarter. Pensionmark Financial Group LLC now owns 2,531 shares of the coffee company’s stock worth $213,000 after purchasing an additional 107 shares during the last quarter. Kesler Norman & Wride LLC lifted its stake in Starbucks by 1.1% in the 3rd quarter. Kesler Norman & Wride LLC now owns 10,444 shares of the coffee company’s stock valued at $880,000 after buying an additional 115 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in Starbucks by 1.0% in the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 11,963 shares of the coffee company’s stock worth $1,007,000 after buying an additional 116 shares during the last quarter. Finally, Financial Advisors Network Inc. increased its stake in Starbucks by 2.7% during the 3rd quarter. Financial Advisors Network Inc. now owns 4,379 shares of the coffee company’s stock worth $369,000 after buying an additional 116 shares in the last quarter. 69.16% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently issued reports on SBUX shares. Wells Fargo & Company initiated coverage on Starbucks in a research note on Monday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. Stifel Nicolaus increased their target price on shares of Starbucks from $93.00 to $117.00 and gave the company a “hold” rating in a research report on Monday, January 30th. Cowen boosted their price target on shares of Starbucks from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. JPMorgan Chase & Co. raised their target price on shares of Starbucks from $100.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 18th. Finally, Credit Suisse Group upped their price target on Starbucks from $116.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $108.46.
Starbucks Stock Performance
Starbucks (NASDAQ:SBUX – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The coffee company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.78 billion. Starbucks had a negative return on equity of 39.78% and a net margin of 10.09%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. On average, research analysts forecast that Starbucks Co. will post 3.41 EPS for the current fiscal year.
Insider Activity
In related news, CFO Rachel Ruggeri sold 3,960 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $106.50, for a total transaction of $421,740.00. Following the sale, the chief financial officer now directly owns 57,962 shares in the company, valued at $6,172,953. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Rachel Ruggeri sold 3,960 shares of Starbucks stock in a transaction on Monday, January 9th. The shares were sold at an average price of $106.50, for a total transaction of $421,740.00. Following the completion of the sale, the chief financial officer now directly owns 57,962 shares of the company’s stock, valued at approximately $6,172,953. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Zabrina Jenkins sold 2,962 shares of the stock in a transaction on Monday, February 13th. The shares were sold at an average price of $108.48, for a total value of $321,317.76. Following the completion of the transaction, the executive vice president now directly owns 38,258 shares in the company, valued at approximately $4,150,227.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,658 shares of company stock worth $820,706. 1.98% of the stock is currently owned by company insiders.
Starbucks Profile
Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.
Featured Articles
- Get a free copy of the StockNews.com research report on Starbucks (SBUX)
- Meta Platforms: Efficiency Gains Momentum, Stock Accelerates
- Pfizer’s Latest Acquisition Strengthens the Case for PFE Stock
- SentinelOne: Reversal In-Play For Cybersecurity Stocks
- Is Sportradar Group A Growth Stock To Bet On In 2023?
- Strong Guidance says Boeing is Ready for Takeoff
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.
