Starbucks Co. (NASDAQ:SBUX) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,305 shares of the coffee company’s stock after selling 1,010 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Starbucks were worth $1,102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Astoria Portfolio Advisors LLC. increased its stake in Starbucks by 2.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after buying an additional 127 shares during the period. Keystone Wealth Services LLC boosted its holdings in shares of Starbucks by 1.3% in the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock valued at $990,000 after acquiring an additional 130 shares in the last quarter. M&R Capital Management Inc. increased its stake in shares of Starbucks by 30.9% during the second quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after acquiring an additional 134 shares during the period. Fragasso Financial Advisors Inc raised its holdings in Starbucks by 1.1% during the second quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock worth $999,000 after purchasing an additional 135 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. raised its holdings in Starbucks by 1.8% during the second quarter. Pinnacle West Asset Management Inc. now owns 7,495 shares of the coffee company’s stock worth $583,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated 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 purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.4 %

SBUX opened at $95.46 on Thursday. The stock has a fifty day moving average price of $94.08 and a 200 day moving average price of $84.62. 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 $108.13 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 2.06 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 analyst estimates of $9.25 billion. During the same period in the previous year, the company earned $1.00 EPS. The firm’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SBUX. JPMorgan Chase & Co. lifted their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, Morgan Stanley boosted their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $101.84.

About Starbucks

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.