Capital Investment Services of America Inc. Sells 203 Shares of Starbucks Co. (NASDAQ:SBUX)

Capital Investment Services of America Inc. lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) 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.

Starbucks (NASDAQ:SBUX) last issued 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 negative return on equity of 44.46% and a net margin of 10.81%. The company had revenue of $9.17 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company earned $0.84 earnings per share. Starbucks’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts forecast that Starbucks Co. will post 3.45 earnings per share for the current fiscal year.

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 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.