CX Institutional Sells 1,412 Shares of Starbucks Co. (NASDAQ:SBUX)

CX Institutional cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 18.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,280 shares of the coffee company’s stock after selling 1,412 shares during the period. CX Institutional’s holdings in Starbucks were worth $612,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SBUX. Cox Capital Mgt LLC increased its holdings in Starbucks by 41.9% during the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after acquiring an additional 13,372 shares during the period. Fidelis Capital Partners LLC increased its holdings in shares of Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares during the period. AMI Asset Management Corp raised its position in shares of Starbucks by 2.8% in the first quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after buying an additional 10,092 shares in the last quarter. LRI Investments LLC bought a new stake in Starbucks during the first quarter valued at $136,000. Finally, BNP Paribas purchased a new position in Starbucks during the first quarter worth about $9,332,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America raised their price target on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. BMO Capital Markets lifted their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Morgan Stanley increased their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.84.

Insiders Place Their Bets

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated 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 directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’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 completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.4 %

NASDAQ:SBUX opened at $95.46 on Thursday. The firm’s fifty day simple moving average is $94.08 and its 200 day simple moving average is $84.62. The stock has a market cap of $108.13 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

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.