Steigerwald Gordon & Koch Inc. Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Steigerwald Gordon & Koch Inc. lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,130 shares of the coffee company’s stock after selling 205 shares during the quarter. Steigerwald Gordon & Koch Inc.’s holdings in Starbucks were worth $244,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Scarborough Advisors LLC acquired a new stake in Starbucks in the fourth quarter valued at $26,000. Vima LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at $27,000. Fairman Group LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at $30,000. Finally, Raleigh Capital Management Inc. boosted its stake in shares of Starbucks by 150.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SBUX shares. Jefferies Financial Group reduced their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday, August 21st. Morgan Stanley reiterated an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

Insiders Place Their Bets

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

Shares of SBUX stock traded down $0.89 during trading hours on Tuesday, hitting $91.32. The company had a trading volume of 408,381 shares, compared to its average volume of 11,889,731. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The firm has a market capitalization of $103.44 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 2.18 and a beta of 0.96. The firm’s fifty day moving average is $82.71 and its 200 day moving average is $83.77.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting 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 for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the company earned $1.00 EPS. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts expect that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Starbucks Company Profile

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.