Capital Investment Services of America Inc. lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 0.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 210,119 shares of the coffee company’s stock after selling 203 shares during the quarter. Starbucks accounts for 2.3% of Capital Investment Services of America Inc.’s portfolio, making the stock its 21st biggest holding. Capital Investment Services of America Inc.’s holdings in Starbucks were worth $20,814,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of SBUX. Norges Bank purchased a new position in Starbucks during the 4th quarter valued at $1,222,931,000. Moneta Group Investment Advisors LLC lifted its stake in shares of Starbucks by 115,334.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock worth $842,569,000 after purchasing an additional 8,486,281 shares during the last quarter. Morgan Stanley increased its position in Starbucks by 46.3% during the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after buying an additional 8,451,599 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Starbucks during the 1st quarter valued at about $190,270,000. Finally, Amundi increased its position in Starbucks by 86.5% during the 4th quarter. Amundi now owns 4,130,788 shares of the coffee company’s stock valued at $436,661,000 after buying an additional 1,915,771 shares in the last quarter. Hedge funds and other institutional investors own 70.13% of the company’s stock.
Starbucks Trading Down 1.0 %
SBUX traded down $0.93 during trading on Friday, hitting $96.23. The company’s stock had a trading volume of 8,767,575 shares, compared to its average volume of 5,203,073. Starbucks Co. has a twelve month low of $82.43 and a twelve month high of $115.48. The business’s fifty day simple moving average is $99.19 and its 200 day simple moving average is $101.43. The firm has a market capitalization of $110.22 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 1.71 and a beta of 0.93.
Analysts Set New Price Targets
Several research analysts recently issued reports on SBUX shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $104.00 target price on shares of Starbucks in a research report on Wednesday, August 2nd. TD Cowen reissued an “outperform” rating and issued a $117.00 price objective on shares of Starbucks in a report on Wednesday, August 2nd. Stifel Nicolaus cut their price objective on Starbucks from $117.00 to $110.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. StockNews.com initiated coverage on Starbucks in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Citigroup cut their price objective on Starbucks from $117.00 to $112.00 and set a “neutral” rating on the stock in a report on Monday, July 24th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.24.
Insider Buying and Selling at Starbucks
In other news, CFO Rachel Ruggeri sold 679 shares of Starbucks stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $100.60, for a total value of $68,307.40. Following the sale, the chief financial officer now directly owns 54,761 shares of the company’s stock, valued at $5,508,956.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is owned by corporate insiders.
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.
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