McKinley Carter Wealth Services Inc. Has $2.87 Million Position in Starbucks Co. (NASDAQ:SBUX)

McKinley Carter Wealth Services Inc. lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,428 shares of the coffee company’s stock after selling 2,237 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Starbucks were worth $2,869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Scarborough Advisors LLC acquired a new stake in Starbucks in the 4th quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the second quarter valued at approximately $25,000. New Millennium Group LLC bought a new position in Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC grew 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 purchasing an additional 279 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Starbucks in the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks 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 acquisition, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

Starbucks stock traded down $0.07 during midday trading on Wednesday, hitting $94.97. 1,157,478 shares of the company’s stock were exchanged, compared to its average volume of 11,428,181. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock has a 50-day moving average price of $93.67 and a two-hundred day moving average price of $84.54. The company has a market cap of $107.57 billion, a P/E ratio of 26.18, a PEG ratio of 2.06 and a beta of 0.97.

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

Analysts Set New Price Targets

Several brokerages have recently commented on SBUX. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Barclays upped their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $101.84.

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.