McKinley Carter Wealth Services Inc. Sells 2,237 Shares of Starbucks Co. (NASDAQ:SBUX)

McKinley Carter Wealth Services Inc. trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 7.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,428 shares of the coffee company’s stock after selling 2,237 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Starbucks were worth $2,869,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Bill Few Associates Inc. boosted its holdings in Starbucks by 3.2% in the third quarter. Bill Few Associates Inc. now owns 22,010 shares of the coffee company’s stock valued at $2,146,000 after acquiring an additional 680 shares during the last quarter. Jamison Private Wealth Management Inc. raised its position in shares of Starbucks by 16.0% during the third quarter. Jamison Private Wealth Management Inc. now owns 9,816 shares of the coffee company’s stock worth $957,000 after purchasing an additional 1,354 shares during the period. CFM Wealth Partners LLC raised its position in shares of Starbucks by 17.3% during the third quarter. CFM Wealth Partners LLC now owns 24,895 shares of the coffee company’s stock worth $2,275,000 after purchasing an additional 3,664 shares during the period. ERn Financial LLC raised its position in Starbucks by 2.9% in the 3rd quarter. ERn Financial LLC now owns 4,975 shares of the coffee company’s stock valued at $485,000 after buying an additional 139 shares during the last quarter. Finally, QV Investors Inc. raised its position in Starbucks by 9.5% in the 3rd quarter. QV Investors Inc. now owns 189,020 shares of the coffee company’s stock valued at $18,428,000 after buying an additional 16,400 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of Starbucks stock traded down $0.07 during trading on Wednesday, reaching $94.97. The company had a trading volume of 1,157,478 shares, compared to its average volume of 11,428,181. The company has a market cap of $107.57 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The firm’s fifty day moving average is $93.67 and its 200-day moving average is $84.54. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm 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%. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. On average, research analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Finally, Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.84.

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.