Profund Advisors LLC Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Profund Advisors LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 5.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,000 shares of the coffee company’s stock after selling 5,602 shares during the period. Profund Advisors LLC’s holdings in Starbucks were worth $8,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Vima LLC acquired a new stake in shares of Starbucks during the fourth quarter worth about $26,000. Scarborough Advisors LLC purchased a new position in Starbucks during the 4th quarter worth approximately $26,000. New Millennium Group LLC acquired a new stake in Starbucks during the 2nd quarter valued at approximately $26,000. Stephens Consulting LLC boosted its holdings 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 acquiring an additional 279 shares during the last quarter. Finally, DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research reports. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Morgan Stanley reissued an “overweight” rating and issued a $98.00 price objective on shares of Starbucks in a report on Wednesday, July 31st. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Barclays boosted their price target on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Wedbush reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.08.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $96.05 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a market capitalization of $108.84 billion, a PE ratio of 26.46, a P/E/G ratio of 2.31 and a beta of 0.96. The business’s 50 day moving average price is $86.67 and its 200-day moving average price is $84.04.

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

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.