Starbucks Co. (NASDAQ:SBUX) Shares Sold by Veracity Capital LLC

Veracity Capital LLC decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,713 shares of the coffee company’s stock after selling 143 shares during the quarter. Veracity Capital LLC’s holdings in Starbucks were worth $362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC boosted its holdings in shares of Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after buying an additional 1,751 shares in the last quarter. AMI Asset Management Corp boosted its stake in Starbucks by 2.8% in the first quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock valued at $33,384,000 after acquiring an additional 10,092 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Starbucks during the first quarter worth about $136,000. BNP Paribas acquired a new stake in shares of Starbucks during the first quarter worth about $9,332,000. Finally, Great Valley Advisor Group Inc. lifted its holdings in shares of Starbucks by 45.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after purchasing an additional 5,377 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX opened at $96.84 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The stock has a market cap of $109.69 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.08 and a beta of 0.97. The stock’s 50 day simple moving average is $94.90 and its 200 day simple moving average is $84.70.

Starbucks (NASDAQ:SBUX) last posted its 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 the consensus estimate of $9.25 billion. During the same period in the previous year, the business earned $1.00 earnings per share. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on SBUX. Morgan Stanley lifted their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday. BTIG Research raised their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America upped their price target on shares of Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.44.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed 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 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 in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction on Friday, September 6th. The shares were bought 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 position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

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.