Starbucks Co. (NASDAQ:SBUX) Shares Sold by LGT Group Foundation

LGT Group Foundation reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 32.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,489 shares of the coffee company’s stock after selling 17,448 shares during the period. LGT Group Foundation’s holdings in Starbucks were worth $2,841,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vima LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $26,000. New Millennium Group LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at $26,000. Stephens Consulting LLC boosted its position in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the period. Finally, DSM Capital Partners LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $27,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of SBUX stock opened at $92.21 on Tuesday. The stock’s 50 day simple moving average is $82.71 and its 200 day simple moving average is $83.77. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a market capitalization of $104.45 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 2.18 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $9.25 billion. During the same period last year, the business earned $1.00 EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SBUX shares. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Finally, The Goldman Sachs Group started coverage on Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $99.83.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following 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 document filed with the SEC, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,790 shares of company stock valued at $865,514. Corporate 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.