Angeles Wealth Management LLC Sells 615 Shares of Starbucks Co. (NASDAQ:SBUX)

Angeles Wealth Management LLC lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 16.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,054 shares of the coffee company’s stock after selling 615 shares during the quarter. Angeles Wealth Management LLC’s holdings in Starbucks were worth $238,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Gryphon Financial Partners LLC lifted its position in Starbucks by 96.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after buying an additional 2,558 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in Starbucks by 0.8% in the 4th quarter. Avantax Advisory Services Inc. now owns 56,051 shares of the coffee company’s stock worth $5,382,000 after buying an additional 464 shares during the last quarter. Foundations Investment Advisors LLC lifted its position in Starbucks by 85.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 15,483 shares of the coffee company’s stock worth $1,446,000 after buying an additional 7,116 shares during the last quarter. Curi Wealth Management LLC bought a new stake in Starbucks in the 4th quarter worth approximately $216,000. Finally, Guardian Capital LP lifted its position in Starbucks by 5.5% in the 4th quarter. Guardian Capital LP now owns 19,090 shares of the coffee company’s stock worth $1,833,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 5.2 %

NASDAQ SBUX opened at $98.20 on Thursday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm has a market capitalization of $111.28 billion, a PE ratio of 27.05, a P/E/G ratio of 2.18 and a beta of 0.96. The stock’s 50 day moving average is $83.48 and its 200 day moving average is $83.86.

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

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The disclosure for this sale can be found here. Insiders have sold 9,790 shares of company stock worth $865,514 over the last ninety days. 1.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent research reports. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Bank of America lifted their price target on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. BMO Capital Markets lifted their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

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.