Cwm LLC Sells 868 Shares of Starbucks Co. (NASDAQ:SBUX)

Cwm LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,882 shares of the coffee company’s stock after selling 868 shares during the quarter. Cwm LLC’s holdings in Starbucks were worth $12,760,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Objectivity Squared LLC bought a new position in Starbucks in the third quarter valued at about $204,000. Tilia Fiduciary Partners Inc. acquired a new stake in shares of Starbucks in the 3rd quarter valued at approximately $236,000. True North Advisors LLC grew its holdings in shares of Starbucks by 4.1% during the 3rd quarter. True North Advisors LLC now owns 5,467 shares of the coffee company’s stock valued at $533,000 after purchasing an additional 215 shares during the last quarter. Gill Capital Partners LLC increased its position in Starbucks by 9.8% during the 3rd quarter. Gill Capital Partners LLC now owns 5,049 shares of the coffee company’s stock worth $492,000 after purchasing an additional 450 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. lifted its stake in Starbucks by 0.5% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 89,369 shares of the coffee company’s stock valued at $8,713,000 after purchasing an additional 456 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 1.8 %

NASDAQ SBUX opened at $95.55 on Friday. The business has a fifty day simple moving average of $92.86 and a 200 day simple moving average of $84.58. The firm has a market capitalization of $108.28 billion, a P/E ratio of 26.76, a PEG ratio of 2.11 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

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

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’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 of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s 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 $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Finally, Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $101.16.

Starbucks Company 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.