Everence Capital Management Inc. Has $2.34 Million Position in Starbucks Co. (NASDAQ:SBUX)

Everence Capital Management Inc. trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 20.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,032 shares of the coffee company’s stock after selling 6,100 shares during the quarter. Everence Capital Management Inc.’s holdings in Starbucks were worth $2,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. RFG Advisory LLC increased its position in Starbucks by 5.2% in the 1st quarter. RFG Advisory LLC now owns 10,353 shares of the coffee company’s stock valued at $946,000 after acquiring an additional 513 shares during the period. International Assets Investment Management LLC lifted its holdings in Starbucks by 2.6% during the 1st quarter. International Assets Investment Management LLC now owns 8,271 shares of the coffee company’s stock worth $757,000 after buying an additional 211 shares during the period. Salem Investment Counselors Inc. grew its position in shares of Starbucks by 9.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 6,794 shares of the coffee company’s stock valued at $621,000 after buying an additional 579 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of Starbucks by 45.5% in the first quarter. AdvisorNet Financial Inc now owns 2,024 shares of the coffee company’s stock valued at $185,000 after buying an additional 633 shares during the period. Finally, Global Assets Advisory LLC bought a new position in shares of Starbucks during the first quarter worth about $3,219,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 0.1 %

Starbucks stock traded down $0.05 during trading on Monday, hitting $96.79. 1,308,465 shares of the company were exchanged, compared to its average volume of 11,356,811. The business’s 50 day moving average is $94.90 and its 200 day moving average is $84.67. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The company has a market capitalization of $109.63 billion, a P/E ratio of 26.58, a PEG ratio of 2.08 and a beta of 0.97.

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

Analyst Ratings Changes

SBUX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Barclays boosted their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $102.44.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the 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 of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.