Plato Investment Management Ltd Lowers Holdings in Starbucks Co. (NASDAQ:SBUX)

Plato Investment Management Ltd decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 48.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,048 shares of the coffee company’s stock after selling 13,460 shares during the quarter. Plato Investment Management Ltd’s holdings in Starbucks were worth $1,094,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Scarborough Advisors LLC purchased a new stake in Starbucks in the 4th quarter valued at about $26,000. Vima LLC purchased a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. Fairman Group LLC acquired a new stake in Starbucks in the 4th quarter valued at approximately $30,000. Finally, Raleigh Capital Management Inc. raised its position in Starbucks by 150.0% in 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 during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBUX. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. The Goldman Sachs Group started coverage on Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. Morgan Stanley reissued an “overweight” rating and set a $98.00 price target on shares of Starbucks in a research report on Wednesday, July 31st. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.83.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $98.57 on Monday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The firm has a market capitalization of $111.70 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.38 and a beta of 0.96. The company’s fifty day moving average price is $84.39 and its 200 day moving average price is $83.86.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Insider Transactions at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

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.