Sachetta LLC Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Sachetta LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 12.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,013 shares of the coffee company’s stock after selling 586 shares during the period. Sachetta LLC’s holdings in Starbucks were worth $305,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Starbucks in the fourth quarter valued at $1,240,652,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks in the 1st quarter valued at about $415,167,000. Flossbach Von Storch AG grew its holdings in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the period. Capital World Investors acquired a new stake in Starbucks during the 1st quarter worth approximately $257,721,000. Finally, Van ECK Associates Corp raised its holdings in Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after buying an additional 2,324,847 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SBUX. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Citigroup upped their price target on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. TD Cowen increased their price target on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, The Goldman Sachs Group initiated coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.83.

Starbucks Trading Up 1.2 %

Shares of NASDAQ SBUX opened at $92.21 on Tuesday. The business has a 50 day simple moving average of $82.71 and a 200-day simple moving average of $83.77. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a market capitalization of $104.45 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its 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. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Co. will post 3.56 earnings per share for the current year.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was 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. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Insiders have sold a total of 9,790 shares of company stock worth $865,514 over the last quarter. 1.98% of the stock is owned by company insiders.

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.