HCR Wealth Advisors Sells 1,281 Shares of Starbucks Co. (NASDAQ:SBUX)

HCR Wealth Advisors trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 3.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 31,485 shares of the coffee company’s stock after selling 1,281 shares during the period. HCR Wealth Advisors’ holdings in Starbucks were worth $3,070,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Perfromance Wealth Partners LLC purchased a new position in shares of Starbucks in the 3rd quarter worth about $429,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in Starbucks by 8.7% in the third quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 12,007 shares of the coffee company’s stock valued at $1,171,000 after acquiring an additional 966 shares during the last quarter. Wynn Capital LLC grew its position in shares of Starbucks by 6.7% during the 3rd quarter. Wynn Capital LLC now owns 9,847 shares of the coffee company’s stock valued at $960,000 after acquiring an additional 618 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Starbucks by 259.7% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,121 shares of the coffee company’s stock worth $792,000 after purchasing an additional 5,863 shares during the last quarter. Finally, Pacific Sun Financial Corp lifted its stake in Starbucks by 3.6% in the third quarter. Pacific Sun Financial Corp now owns 4,296 shares of the coffee company’s stock valued at $419,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. 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 through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $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. Insiders own 1.98% of the company’s stock.

Starbucks Stock Up 1.8 %

Shares of NASDAQ SBUX traded up $1.67 during midday trading on Friday, reaching $95.55. The company had a trading volume of 4,834,808 shares, compared to its average volume of 11,543,598. The stock has a market cap of $108.28 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.11 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm’s fifty day moving average price is $92.86 and its 200-day moving average price is $84.58.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Barclays upped their price objective on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Citigroup upped their price target on shares of Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $101.16.

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.