Stablepoint Partners LLC Sells 235 Shares of Starbucks Co. (NASDAQ:SBUX)

Stablepoint Partners LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,427 shares of the coffee company’s stock after selling 235 shares during the period. Stablepoint Partners LLC’s holdings in Starbucks were worth $2,869,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Cox Capital Mgt LLC increased its stake in shares of Starbucks by 41.9% during the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares during the last quarter. Fidelis Capital Partners LLC grew its stake in shares of Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after acquiring an additional 1,751 shares during the period. AMI Asset Management Corp increased its holdings in Starbucks by 2.8% in the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after acquiring an additional 10,092 shares during the last quarter. LRI Investments LLC bought a new stake in Starbucks in the 1st quarter valued at about $136,000. Finally, BNP Paribas purchased a new stake in Starbucks during the first quarter valued at about $9,332,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

SBUX stock traded down $0.07 during trading on Monday, reaching $95.48. The company had a trading volume of 415,961 shares, compared to its average volume of 11,487,353. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The business has a 50 day moving average of $92.86 and a 200 day moving average of $84.49. The company has a market cap of $108.15 billion, a P/E ratio of 26.32, a PEG ratio of 2.06 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its 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 negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the company earned $1.00 EPS. The business’s revenue was down .6% compared to the same quarter last year. Research analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s 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 $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of several research reports. Bank of America boosted their price target on shares of Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Morgan Stanley restated an “overweight” rating and set a $98.00 price target on shares of Starbucks in a research report on Wednesday, July 31st. Finally, Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $101.16.

Starbucks 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.