Vaughan David Investments LLC IL Cuts Holdings in Starbucks Co. (NASDAQ:SBUX)

Vaughan David Investments LLC IL cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 16.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,856 shares of the coffee company’s stock after selling 4,741 shares during the period. Vaughan David Investments LLC IL’s holdings in Starbucks were worth $1,857,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after acquiring an additional 470,498 shares during the last quarter. Norges Bank purchased a new stake in Starbucks in the fourth quarter worth approximately $1,240,652,000. Fisher Asset Management LLC boosted its holdings in Starbucks by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock worth $1,090,654,000 after purchasing an additional 260,489 shares during the last quarter. Flossbach Von Storch AG grew its position in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the period. Finally, Franklin Resources Inc. raised its stake in Starbucks by 3.1% during the 4th quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock valued at $529,147,000 after buying an additional 166,010 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

SBUX stock opened at $98.20 on Thursday. The company has a market capitalization of $111.28 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.18 and a beta of 0.96. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The business has a 50 day simple moving average of $83.48 and a two-hundred day simple moving average of $83.86.

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

Insider Activity

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 value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders sold a total of 9,790 shares of company stock worth $865,514 over the last 90 days. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. TD Cowen lifted their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. cut their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. BMO Capital Markets increased their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday. Bank of America boosted their target price on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.83.

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.