HCR Wealth Advisors Has $3.07 Million Position in Starbucks Co. (NASDAQ:SBUX)

by · The Cerbat Gem

HCR Wealth Advisors lessened its position in Starbucks Co. (NASDAQ:SBUX – Free Report) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,485 shares of the coffee company’s stock after selling 1,281 shares during the quarter. HCR Wealth Advisors’ holdings in Starbucks were worth $3,070,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of SBUX. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks during the 1st quarter worth approximately $415,167,000. Marshall Wace LLP lifted its stake in Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after acquiring an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Starbucks in the 2nd quarter valued at about $243,910,000. Flossbach Von Storch AG increased its stake in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the last quarter. Finally, Capital World Investors bought a new stake in shares of Starbucks in the 1st quarter valued at about $257,721,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 1.8 %

NASDAQ:SBUX traded up $1.67 during trading hours on Friday, hitting $95.55. 4,834,808 shares of the company were exchanged, compared to its average volume of 11,543,598. The stock has a market capitalization of $108.28 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 2.11 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company has a fifty day simple moving average of $92.86 and a 200 day simple moving average of $84.58.

Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.00 earnings per share. Equities research analysts predict that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on SBUX shares. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. Finally, TD Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $101.16.

Read Our Latest Report on Starbucks

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Profile

(Free Report)

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.

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