CWA Asset Management Group LLC Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

CWA Asset Management Group LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX – Get Rating) by 11.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,738 shares of the coffee company’s stock after selling 345 shares during the period. CWA Asset Management Group LLC’s holdings in Starbucks were worth $272,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SBUX. Fisher Asset Management LLC grew its position in shares of Starbucks by 19,316.8% in the 3rd quarter. Fisher Asset Management LLC now owns 9,618,502 shares of the coffee company’s stock worth $810,455,000 after buying an additional 9,568,965 shares during the last quarter. Public Investment Fund bought a new stake in shares of Starbucks in the 2nd quarter worth approximately $482,273,000. Price T Rowe Associates Inc. MD grew its position in shares of Starbucks by 29.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,598,025 shares of the coffee company’s stock worth $1,038,753,000 after buying an additional 3,133,826 shares during the last quarter. Sustainable Growth Advisers LP bought a new stake in shares of Starbucks in the 3rd quarter worth approximately $227,839,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Starbucks in the 1st quarter worth approximately $190,270,000. 69.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Starbucks from $100.00 to $114.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 18th. Citigroup lifted their price objective on Starbucks from $111.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. Tigress Financial restated a “buy” rating and set a $136.00 price target on shares of Starbucks in a research report on Friday, January 20th. Deutsche Bank Aktiengesellschaft lowered Starbucks from a “buy” rating to a “hold” rating and lifted their price target for the company from $100.00 to $106.00 in a research report on Monday, December 5th. Finally, Guggenheim lifted their price target on Starbucks from $92.00 to $103.00 in a research report on Friday, January 6th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks has an average rating of “Hold” and an average price target of $108.74.

Starbucks Trading Down 1.7 %

Starbucks stock opened at $98.70 on Friday. Starbucks Co. has a 12 month low of $68.39 and a 12 month high of $110.83. The business’s fifty day simple moving average is $105.02 and its two-hundred day simple moving average is $97.32. The company has a market capitalization of $113.44 billion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 1.71 and a beta of 0.94.

Starbucks (NASDAQ:SBUX – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The coffee company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). Starbucks had a negative return on equity of 39.78% and a net margin of 10.09%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 3.41 EPS for the current year.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 736 shares of the business’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $105.50, for a total value of $77,648.00. Following the completion of the transaction, the chief financial officer now owns 56,028 shares in the company, valued at $5,910,954. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Zabrina Jenkins sold 2,962 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $108.48, for a total transaction of $321,317.76. Following the completion of the sale, the executive vice president now owns 38,258 shares in the company, valued at $4,150,227.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 736 shares of the company’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $105.50, for a total value of $77,648.00. Following the sale, the chief financial officer now owns 56,028 shares of the company’s stock, valued at approximately $5,910,954. The disclosure for this sale can be found here. Insiders sold 7,658 shares of company stock worth $820,706 over the last quarter. 1.98% of the stock is currently owned by insiders.

Starbucks Company Profile

(Get Rating)

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.