Starbucks Co. (NASDAQ:SBUX) Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 50.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 875 shares of the coffee company’s stock after selling 904 shares during the period. Catalyst Capital Advisors LLC’s holdings in Starbucks were worth $80,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SBUX. OLD National Bancorp IN grew its holdings in Starbucks by 12.7% during the 3rd quarter. OLD National Bancorp IN now owns 15,344 shares of the coffee company’s stock valued at $1,496,000 after purchasing an additional 1,725 shares in the last quarter. Vest Financial LLC acquired a new stake in Starbucks during the 3rd quarter valued at $720,000. Allspring Global Investments Holdings LLC grew its holdings in Starbucks by 40.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 496,951 shares of the coffee company’s stock valued at $48,448,000 after purchasing an additional 143,258 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in Starbucks by 16.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 23,028 shares of the coffee company’s stock valued at $2,245,000 after purchasing an additional 3,330 shares in the last quarter. Finally, Oakworth Capital Inc. grew its holdings in Starbucks by 11.0% during the 3rd quarter. Oakworth Capital Inc. now owns 4,330 shares of the coffee company’s stock worth $422,000 after acquiring an additional 428 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on SBUX. BMO Capital Markets raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Citigroup raised their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wedbush raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Finally, UBS Group raised their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Stock Up 0.4 %

Shares of SBUX stock opened at $113.03 on Wednesday. The stock has a 50-day simple moving average of $98.55 and a 200 day simple moving average of $96.40. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $113.47. The stock has a market capitalization of $128.39 billion, a P/E ratio of 36.46, a P/E/G ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 3 earnings per share for the current year.

About Starbucks

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.