Ferguson Wellman Capital Management Inc. Sells 10,868 Shares of Starbucks Co. (NASDAQ:SBUX)

Ferguson Wellman Capital Management Inc. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 26.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,917 shares of the coffee company’s stock after selling 10,868 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Starbucks were worth $3,014,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks in the second quarter valued at about $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC increased its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks during the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC acquired a new position in Starbucks during the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX traded up $1.57 during trading on Friday, reaching $96.84. 6,178,250 shares of the stock traded hands, compared to its average volume of 11,404,794. The stock has a market capitalization of $109.69 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The company has a 50-day moving average of $94.90 and a 200-day moving average of $84.73.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion for 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 company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. Analysts expect that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Morgan Stanley raised their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. BMO Capital Markets boosted their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Finally, BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.44.

Starbucks Company 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.