Starbucks Co. (NASDAQ:SBUX) Shares Sold by McIlrath & Eck LLC

McIlrath & Eck LLC reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,178 shares of the coffee company’s stock after selling 484 shares during the period. McIlrath & Eck LLC’s holdings in Starbucks were worth $700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Invst LLC raised its position in shares of Starbucks by 1.9% in the 3rd quarter. Invst LLC now owns 20,767 shares of the coffee company’s stock valued at $2,025,000 after purchasing an additional 395 shares during the last quarter. TCW Group Inc. increased its stake in Starbucks by 223.2% during the 3rd quarter. TCW Group Inc. now owns 51,430 shares of the coffee company’s stock valued at $5,014,000 after purchasing an additional 35,515 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Starbucks by 9.1% in the third quarter. TD Private Client Wealth LLC now owns 32,712 shares of the coffee company’s stock worth $3,189,000 after buying an additional 2,733 shares during the last quarter. Virtue Capital Management LLC raised its holdings in shares of Starbucks by 1.7% in the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock worth $674,000 after buying an additional 115 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Starbucks by 59.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 282,651 shares of the coffee company’s stock worth $27,556,000 after buying an additional 105,894 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

NASDAQ SBUX opened at $98.16 on Wednesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The company has a market cap of $111.29 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 2.94 and a beta of 0.97. The stock’s 50 day simple moving average is $98.12 and its 200-day simple moving average is $89.05.

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

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on SBUX. Citigroup raised their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Morgan Stanley raised their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $103.77.

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.