RB Capital Management LLC Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

RB Capital Management LLC lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,604 shares of the coffee company’s stock after selling 5,975 shares during the period. Starbucks accounts for 1.3% of RB Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. RB Capital Management LLC’s holdings in Starbucks were worth $5,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks in the second quarter valued at $25,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC lifted its stake in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks during the second quarter worth about $27,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Starbucks during the second quarter worth about $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $99.31 on Tuesday. The company has a market capitalization of $112.60 billion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 2.94 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The business has a 50 day moving average price of $98.12 and a two-hundred day moving average price of $89.05.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts expect that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. BMO Capital Markets boosted their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Stifel Nicolaus boosted their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. BTIG Research boosted their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

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.