Venture Visionary Partners LLC Has $2.42 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Venture Visionary Partners LLC decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 26.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 24,792 shares of the coffee company’s stock after selling 9,008 shares during the period. Venture Visionary Partners LLC’s holdings in Starbucks were worth $2,417,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the 2nd quarter worth approximately $25,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the second quarter worth approximately $26,000. Stephens Consulting LLC lifted its holdings in shares of Starbucks by 498.2% in 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 in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Starbucks in the 2nd quarter valued at $27,000. Finally, Olistico Wealth LLC bought a new stake in Starbucks during the 2nd quarter valued at $31,000. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Starbucks stock opened at $96.45 on Tuesday. The firm has a market capitalization of $109.30 billion, a P/E ratio of 27.02, a PEG ratio of 2.14 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The business has a fifty day moving average price of $95.29 and a 200-day moving average price of $84.73.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts expect that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of analyst reports. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Morgan Stanley boosted their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.44.

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.