Gould Capital LLC Trims Stock Position in Starbucks Co. (NASDAQ:SBUX)

Gould Capital LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,592 shares of the coffee company’s stock after selling 442 shares during the period. Starbucks accounts for about 2.2% of Gould Capital LLC’s portfolio, making the stock its 19th largest holding. Gould Capital LLC’s holdings in Starbucks were worth $3,275,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks during the 2nd quarter worth approximately $25,000. New Millennium Group LLC acquired a new position in Starbucks during the 2nd quarter worth $26,000. Stephens Consulting LLC increased its holdings in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Starbucks in the second quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth $31,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Down 0.8 %

Starbucks stock opened at $99.31 on Tuesday. The firm has a market capitalization of $112.60 billion, a PE ratio of 30.00, a P/E/G 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’s 50-day simple moving average is $98.12 and its 200 day simple moving average is $89.05.

Starbucks (NASDAQ:SBUX) last announced 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 company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, research analysts expect that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Royal Bank of Canada assumed coverage on shares of Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 target price on the stock. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. increased their price target on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.77.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.98% of the stock is owned by insiders.

About Starbucks

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.