SeaCrest Wealth Management LLC Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

SeaCrest Wealth Management LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 8.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,305 shares of the coffee company’s stock after selling 1,010 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Starbucks were worth $1,102,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the 2nd quarter valued at $25,000. Scarborough Advisors LLC purchased a new stake in Starbucks during the fourth quarter worth about $26,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC lifted its position 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. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Starbucks in the second quarter valued at approximately $27,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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 of the company’s stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Up 0.4 %

Shares of NASDAQ SBUX opened at $95.46 on Thursday. The business has a 50-day moving average price of $94.08 and a 200 day moving average price of $84.62. The stock has a market cap of $108.13 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 earnings per share. Sell-side analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SBUX. BMO Capital Markets increased their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given 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 an average rating of “Moderate Buy” and an average target price of $101.84.

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.