InTrack Investment Management Inc Sells 4,610 Shares of Starbucks Co. (NASDAQ:SBUX)

InTrack Investment Management Inc lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 42.4% during the third quarter, HoldingsChannel.com reports. The firm owned 6,275 shares of the coffee company’s stock after selling 4,610 shares during the period. InTrack Investment Management Inc’s holdings in Starbucks were worth $612,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SBUX. Vanguard Group Inc. increased its position in shares of Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after purchasing an additional 470,498 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Starbucks by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock worth $1,090,654,000 after buying an additional 260,489 shares during the last quarter. Legal & General Group Plc raised its position in Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after acquiring an additional 221,718 shares in the last quarter. Flossbach Von Storch AG lifted its stake in Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Starbucks by 5.2% in the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock valued at $495,145,000 after acquiring an additional 266,570 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of several recent analyst reports. Wedbush reiterated a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and raised their price target for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $98.00 price objective on shares of Starbucks in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.16.

Starbucks Stock Up 1.8 %

Shares of Starbucks stock opened at $95.55 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The company has a market capitalization of $108.28 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.11 and a beta of 0.97. The firm’s 50-day moving average price is $92.86 and its two-hundred day moving average price is $84.54.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $9.25 billion. During the same quarter last year, the business posted $1.00 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Insider Activity

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

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.