Horst & Graben Wealth Management LLC Has $517,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Horst & Graben Wealth Management LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,306 shares of the coffee company’s stock after selling 111 shares during the quarter. Horst & Graben Wealth Management LLC’s holdings in Starbucks were worth $517,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after acquiring an additional 470,498 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares during the period. Flossbach Von Storch AG raised its stake in Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Nordea Investment Management AB increased its position 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 worth $495,145,000 after purchasing an additional 266,570 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new position in Starbucks in the first quarter valued at about $415,167,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 0.4 %

SBUX opened at $96.45 on Tuesday. The company has a fifty day simple moving average of $95.29 and a 200 day simple moving average of $84.73. The stock has a market cap of $109.25 billion, a P/E ratio of 26.57, a P/E/G ratio of 2.14 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

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

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on 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 purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This trade 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.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and dropped their price target for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Wedbush reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. 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 shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $102.44.

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.