Starbucks Co. (NASDAQ:SBUX) Shares Sold by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 33.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,316 shares of the coffee company’s stock after selling 1,177 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Starbucks were worth $226,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SBUX. Ontario Teachers Pension Plan Board acquired a new position in Starbucks during the first quarter worth $415,167,000. Marshall Wace LLP raised its position in Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after acquiring an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in Starbucks during the second quarter worth $243,910,000. Flossbach Von Storch AG raised its position in Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares during the period. Finally, Capital World Investors acquired a new position in Starbucks during the first quarter worth $257,721,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBUX has been the subject of a number of research reports. Wedbush reaffirmed a “neutral” rating and set a $80.00 target price on shares of Starbucks in a report on Tuesday, August 13th. Barclays upped their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.16.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $95.04 on Wednesday. The stock has a market capitalization of $107.65 billion, a PE ratio of 26.18, a P/E/G ratio of 2.06 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company’s 50-day simple moving average is $93.67 and its 200-day simple moving average is $84.54.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

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.