LVM Capital Management Ltd. MI Reduces Position in Starbucks Co. (NASDAQ:SBUX)

LVM Capital Management Ltd. MI trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,454 shares of the coffee company’s stock after selling 155 shares during the period. LVM Capital Management Ltd. MI’s holdings in Starbucks were worth $7,177,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. America First Investment Advisors LLC acquired a new stake in Starbucks during the 1st quarter worth $25,000. Cranbrook Wealth Management LLC acquired a new stake in Starbucks during the 1st quarter worth $26,000. Freedom Wealth Alliance LLC acquired a new stake in Starbucks during the 4th quarter worth $26,000. Delta Asset Management LLC TN acquired a new stake in shares of Starbucks in the 4th quarter worth $28,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Starbucks in the 1st quarter worth $29,000. 70.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent analyst reports. Citigroup reduced their target price on shares of Starbucks from $117.00 to $112.00 and set a “neutral” rating for the company in a research note on Monday, July 24th. StockNews.com started coverage on shares of Starbucks in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Barclays reduced their price objective on shares of Starbucks from $127.00 to $123.00 and set an “overweight” rating for the company in a research note on Wednesday, August 2nd. Wells Fargo & Company reduced their price objective on shares of Starbucks from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, July 19th. Finally, Stifel Nicolaus reduced their price objective on shares of Starbucks from $117.00 to $110.00 and set a “hold” rating for the company in a research note on Wednesday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.18.

Starbucks Stock Performance

Starbucks stock traded up $0.12 during trading on Friday, reaching $97.28. The company had a trading volume of 2,430,328 shares, compared to its average volume of 6,206,275. The stock’s 50 day moving average price is $99.16 and its two-hundred day moving average price is $101.51. Starbucks Co. has a 12-month low of $82.43 and a 12-month high of $115.48. The firm has a market capitalization of $111.42 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 1.70 and a beta of 0.93.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, August 1st. The coffee company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The business had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 10.81% and a negative return on equity of 44.46%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. As a group, research analysts expect that Starbucks Co. will post 3.45 earnings per share for the current year.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 679 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total transaction of $68,307.40. Following the completion of the sale, the chief financial officer now owns 54,761 shares in the company, valued at $5,508,956.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.98% of the stock is owned by insiders.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.