Symmetry Partners LLC Reduces Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Symmetry Partners LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 22.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,847 shares of the coffee company’s stock after selling 2,262 shares during the period. Symmetry Partners LLC’s holdings in Starbucks were worth $777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Physician Wealth Advisors Inc. lifted its stake in shares of Starbucks by 5.7% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 2,956 shares of the coffee company’s stock valued at $293,000 after purchasing an additional 160 shares during the period. Relative Value Partners Group LLC lifted its holdings in Starbucks by 0.7% during the first quarter. Relative Value Partners Group LLC now owns 27,743 shares of the coffee company’s stock valued at $2,889,000 after purchasing an additional 195 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its holdings in Starbucks by 35.0% during the first quarter. Oliver Lagore Vanvalin Investment Group now owns 2,913 shares of the coffee company’s stock valued at $303,000 after purchasing an additional 756 shares in the last quarter. Bradley Mark J. lifted its holdings in Starbucks by 15.7% during the first quarter. Bradley Mark J. now owns 34,425 shares of the coffee company’s stock valued at $3,585,000 after purchasing an additional 4,680 shares in the last quarter. Finally, Sweeney & Michel LLC purchased a new position in Starbucks during the first quarter valued at $689,000. 70.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Rachel Ruggeri sold 679 shares of Starbucks stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total value of $68,307.40. Following the completion of the transaction, the chief financial officer now owns 54,761 shares in the company, valued at $5,508,956.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX opened at $97.16 on Friday. The firm has a 50 day simple moving average of $99.16 and a 200-day simple moving average of $101.51. Starbucks Co. has a one year low of $82.43 and a one year high of $115.48. The firm has a market cap of $111.29 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 quarterly earnings data on Tuesday, August 1st. The coffee company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.95 by $0.05. Starbucks had a net margin of 10.81% and a negative return on equity of 44.46%. The business had revenue of $9.17 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts predict that Starbucks Co. will post 3.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SBUX shares. Morgan Stanley reissued an “equal weight” rating and issued a $104.00 price target on shares of Starbucks in a research note on Wednesday, August 2nd. TD Cowen reissued an “outperform” rating and issued a $117.00 price target on shares of Starbucks in a research note on Wednesday, August 2nd. Wells Fargo & Company decreased their price target on shares of Starbucks from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 19th. StockNews.com began coverage on shares of Starbucks in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Citigroup cut their price objective on shares of Starbucks from $117.00 to $112.00 and set a “neutral” rating for the company in a research report on Monday, July 24th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.18.

Starbucks Company 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.