Bard Financial Services Inc. Sells 6,935 Shares of Starbucks Co. (NASDAQ:SBUX)

by · The Cerbat Gem

Bard Financial Services Inc. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 8.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 72,303 shares of the coffee company’s stock after selling 6,935 shares during the quarter. Bard Financial Services Inc.’s holdings in Starbucks were worth $7,049,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Great Valley Advisor Group Inc. lifted its holdings in shares of Starbucks by 45.8% in the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock worth $1,333,000 after acquiring an additional 5,377 shares during the last quarter. ORG Partners LLC lifted its holdings in shares of Starbucks by 292.1% in the second quarter. ORG Partners LLC now owns 3,701 shares of the coffee company’s stock worth $286,000 after acquiring an additional 2,757 shares during the last quarter. Country Club Bank lifted its holdings in shares of Starbucks by 6.8% in the second quarter. Country Club Bank now owns 22,965 shares of the coffee company’s stock worth $1,820,000 after acquiring an additional 1,464 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Starbucks by 7.1% in the second quarter. Redhawk Wealth Advisors Inc. now owns 3,493 shares of the coffee company’s stock worth $272,000 after acquiring an additional 231 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its holdings in shares of Starbucks by 28.3% in the second quarter. Baader Bank Aktiengesellschaft now owns 8,338 shares of the coffee company’s stock worth $637,000 after acquiring an additional 1,838 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on SBUX. Redburn Atlantic reissued a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Morgan Stanley raised their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Read Our Latest Analysis on SBUX

Starbucks Stock Down 0.1 %

Shares of SBUX stock opened at $98.09 on Wednesday. The company has a market cap of $111.21 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 2.94 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The firm has a 50 day moving average of $98.12 and a 200-day moving average of $89.05.

Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the firm posted $1.06 EPS. Starbucks’s revenue was down 3.2% compared to the same quarter last year. Analysts anticipate that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Profile

(Free Report)

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.

See Also

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