Starbucks Co. (NASDAQ:SBUX) Shares Sold by Clarius Group LLC

by · The Cerbat Gem

Clarius Group LLC reduced its position in Starbucks Co. (NASDAQ:SBUX – Free Report) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,672 shares of the coffee company’s stock after selling 835 shares during the period. Clarius Group LLC’s holdings in Starbucks were worth $6,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Beaumont Financial Advisors LLC raised its position in Starbucks by 4.4% during the third quarter. Beaumont Financial Advisors LLC now owns 4,255 shares of the coffee company’s stock worth $415,000 after acquiring an additional 180 shares during the period. Albion Financial Group UT boosted its holdings in Starbucks by 0.3% in the 3rd quarter. Albion Financial Group UT now owns 145,940 shares of the coffee company’s stock worth $14,228,000 after buying an additional 454 shares during the last quarter. Private Advisory Group LLC increased its stake in Starbucks by 2.9% during the 3rd quarter. Private Advisory Group LLC now owns 9,755 shares of the coffee company’s stock worth $951,000 after buying an additional 274 shares in the last quarter. Watts Gwilliam & Co. LLC acquired a new position in shares of Starbucks during the third quarter valued at approximately $1,059,000. Finally, LifePro Asset Management purchased a new position in shares of Starbucks in the third quarter valued at approximately $853,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of SBUX stock opened at $94.77 on Friday. The stock has a market capitalization of $107.39 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 2.11 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company’s 50-day simple moving average is $92.47 and its 200-day simple moving average is $84.55.

Starbucks (NASDAQ:SBUX – Get Free Report) 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. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. As a group, research analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SBUX. Bank of America boosted their target price on shares of Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. BMO Capital Markets boosted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.16.

Check Out Our Latest Analysis on SBUX

Insider Buying and Selling

In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’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 completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Company Profile

(Free Report)

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.

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