Starbucks Co. (NASDAQ:SBUX) Shares Sold by Veracity Capital LLC

Veracity Capital LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,713 shares of the coffee company’s stock after selling 143 shares during the period. Veracity Capital LLC’s holdings in Starbucks were worth $362,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Starbucks by 0.4% during the first 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. Legal & General Group Plc boosted its stake in Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after buying an additional 221,718 shares during the last quarter. Flossbach Von Storch AG grew its holdings in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares during the period. Nordea Investment Management AB increased its stake in shares of Starbucks by 5.2% during 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 last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Starbucks during the 1st quarter worth about $415,167,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

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

Analysts Set New Price Targets

A number of research firms recently issued reports on SBUX. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Barclays increased their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Wedbush reissued a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. Finally, DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 21st. 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 issued a strong buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $102.44.

Starbucks Stock Performance

Shares of SBUX opened at $96.84 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The stock has a 50-day moving average price of $94.90 and a 200 day moving average price of $84.70. The company has a market capitalization of $109.69 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.08 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

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.