Starbucks Co. (NASDAQ:SBUX) Shares Sold by Brown Financial Advisors

Brown Financial Advisors reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,707 shares of the coffee company’s stock after selling 958 shares during the quarter. Brown Financial Advisors’ holdings in Starbucks were worth $1,629,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter valued at approximately $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the second quarter worth $26,000. Stephens Consulting LLC grew its holdings in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Starbucks in the 2nd quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in Starbucks in the second quarter worth approximately $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Down 0.8 %

Shares of NASDAQ SBUX opened at $99.31 on Tuesday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The firm has a market capitalization of $112.60 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 2.94 and a beta of 0.97. The business has a fifty day simple moving average of $98.12 and a 200 day simple moving average of $89.05.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. On average, research analysts anticipate that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

SBUX has been the subject of a number of recent research reports. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. UBS Group increased their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.77.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.98% of the company’s stock.

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.