Starbucks Co. (NASDAQ:SBUX) Shares Sold by Private Asset Management Inc.

Private Asset Management Inc. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 120,037 shares of the coffee company’s stock after selling 1,181 shares during the period. Starbucks makes up approximately 1.7% of Private Asset Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Private Asset Management Inc.’s holdings in Starbucks were worth $10,063,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SBUX. Lake Point Wealth Management acquired a new position in Starbucks during the fourth quarter worth about $25,000. Cowen Prime Services LLC acquired a new position in Starbucks during the first quarter worth about $26,000. Paragon Capital Management LLC acquired a new position in Starbucks during the first quarter worth about $29,000. C J Advisory Inc acquired a new position in Starbucks during the first quarter worth about $34,000. Finally, Somerset Trust Co grew its holdings in Starbucks by 159.2% during the first quarter. Somerset Trust Co now owns 819 shares of the coffee company’s stock worth $61,000 after acquiring an additional 503 shares during the period. 71.63% of the stock is currently owned by institutional investors.

Shares of Starbucks stock traded down $0.81 during trading on Tuesday, hitting $90.11. 6,932,490 shares of the stock traded hands, compared to its average volume of 9,047,937. The company has a market capitalization of $109.37 billion, a PE ratio of 37.24, a P/E/G ratio of 2.53 and a beta of 0.55. Starbucks Co. has a twelve month low of $50.21 and a twelve month high of $91.61. The business’s fifty day moving average is $85.70.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same period in the previous year, the company earned $0.53 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. On average, analysts predict that Starbucks Co. will post 2.78 earnings per share for the current year.

A number of research analysts recently issued reports on the company. Zacks Investment Research raised HAYS PLC/ADR from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Piper Jaffray Companies set a $40.00 price target on Tapestry and gave the stock a “buy” rating in a research note on Monday, June 10th. Stifel Nicolaus reissued a “buy” rating on shares of Canopy Growth in a research note on Wednesday, July 3rd. Citigroup reissued a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. Finally, OTR Global cut Check Point Software Technologies to a “positive” rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $79.95.

In related news, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $76.12, for a total value of $759,144.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Culver sold 63,937 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $78.04, for a total value of $4,989,643.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,883 shares of company stock worth $7,422,903. Company insiders own 3.98% of the company’s stock.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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