Hexagon Capital Partners LLC Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Hexagon Capital Partners LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 31.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,492 shares of the coffee company’s stock after selling 671 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Starbucks were worth $145,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Objectivity Squared LLC acquired a new stake in Starbucks in the third quarter valued at approximately $204,000. Tilia Fiduciary Partners Inc. purchased a new stake in shares of Starbucks during the 3rd quarter valued at $236,000. True North Advisors LLC boosted its position in shares of Starbucks by 4.1% in the 3rd quarter. True North Advisors LLC now owns 5,467 shares of the coffee company’s stock worth $533,000 after purchasing an additional 215 shares in the last quarter. Gill Capital Partners LLC grew its stake in Starbucks by 9.8% during the 3rd quarter. Gill Capital Partners LLC now owns 5,049 shares of the coffee company’s stock worth $492,000 after buying an additional 450 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. increased its position in Starbucks by 0.5% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 89,369 shares of the coffee company’s stock valued at $8,713,000 after buying an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $93.88 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a market capitalization of $106.38 billion, a P/E ratio of 26.30, a PEG ratio of 2.11 and a beta of 0.97. The business has a 50 day simple moving average of $92.09 and a two-hundred day simple moving average of $84.48.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on SBUX. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Thursday, September 12th. JPMorgan Chase & Co. lifted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday, August 21st. Finally, Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $101.16.

Insiders Place Their Bets

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

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.