Stablepoint Partners LLC Sells 235 Shares of Starbucks Co. (NASDAQ:SBUX)

Stablepoint Partners LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 29,427 shares of the coffee company’s stock after selling 235 shares during the quarter. Stablepoint Partners LLC’s holdings in Starbucks were worth $2,869,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in SBUX. Scarborough Advisors LLC bought a new position in Starbucks in the fourth quarter valued at about $26,000. Vima LLC bought a new position in Starbucks in the fourth quarter worth approximately $26,000. Fairman Group LLC bought a new stake in shares of Starbucks during the 4th quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter worth $25,000. Finally, Raleigh Capital Management Inc. lifted its position in Starbucks by 150.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the 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 sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of analyst reports. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Citigroup upped their price target on shares of Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.16.

Starbucks Price Performance

SBUX stock traded down $0.07 during mid-day trading on Monday, reaching $95.48. The company had a trading volume of 415,961 shares, compared to its average volume of 11,487,353. The firm has a 50 day moving average of $92.86 and a 200 day moving average of $84.49. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a market capitalization of $108.15 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97.

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 the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 EPS. Analysts anticipate that Starbucks Co. will post 3.55 EPS for the current year.

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.