Sapient Capital LLC Sells 1,392 Shares of Starbucks Co. (NASDAQ:SBUX)

Sapient Capital LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 31.1% in the 3rd quarter, Holdings Channel reports. The fund owned 3,082 shares of the coffee company’s stock after selling 1,392 shares during the quarter. Sapient Capital LLC’s holdings in Starbucks were worth $300,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the 2nd quarter worth $25,000. Scarborough Advisors LLC bought a new position in shares of Starbucks during the 4th quarter worth $26,000. New Millennium Group LLC bought a new position in Starbucks in the 2nd quarter worth about $26,000. Stephens Consulting LLC boosted its stake in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Finally, Hobbs Group Advisors LLC bought a new position in Starbucks in the 2nd quarter worth about $27,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on SBUX shares. Citigroup raised their price target on Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Morgan Stanley reissued an “overweight” rating and set a $98.00 price objective on shares of Starbucks in a report on Wednesday, July 31st. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Finally, BMO Capital Markets raised their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.16.

Starbucks Price Performance

SBUX stock opened at $94.76 on Tuesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company has a market cap of $107.33 billion, a P/E ratio of 26.10, a PEG ratio of 2.06 and a beta of 0.97. The firm has a 50-day moving average of $93.28 and a 200 day moving average of $84.52.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. Starbucks’s revenue was down .6% on a year-over-year basis. On average, equities research analysts expect that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

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.