Starbucks Co. (NASDAQ:SBUX) Shares Sold by Garde Capital Inc.

Garde Capital Inc. lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 13.9% during the second quarter, Holdings Channel reports. The firm owned 27,619 shares of the coffee company’s stock after selling 4,462 shares during the period. Garde Capital Inc.’s holdings in Starbucks were worth $2,150,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SBUX. 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 lifted its holdings in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Starbucks during the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX opened at $97.36 on Monday. The company has a 50-day moving average of $88.74 and a 200-day moving average of $84.15. The company has a market capitalization of $110.28 billion, a P/E ratio of 26.82, a PEG ratio of 2.26 and a beta of 0.96. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the business posted $1.00 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on SBUX. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Morgan Stanley restated an “overweight” rating and set a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. Barclays lifted their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Bank of America lifted 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. Finally, Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Starbucks in a report on Tuesday, August 13th. Two equities 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.52.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The purchase was disclosed in a filing with the SEC, which is accessible 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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.