NBC Securities Inc. Has $3.11 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

NBC Securities Inc. trimmed its holdings in Starbucks Co. (NASDAQ:SBUXFree Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,968 shares of the coffee company’s stock after selling 663 shares during the period. NBC Securities Inc.’s holdings in Starbucks were worth $3,113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Starbucks in the 4th quarter valued at $1,240,652,000. Flossbach Von Storch AG boosted its position in shares of Starbucks by 8,677.8% during the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after acquiring an additional 2,684,470 shares in the last quarter. Bank of Nova Scotia increased its stake in Starbucks by 342.7% in the fourth quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after acquiring an additional 1,672,656 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Starbucks by 432.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after purchasing an additional 1,656,591 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Starbucks by 44.8% in the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after purchasing an additional 1,591,206 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,000 shares of company stock valued at $902,050. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Down 1.4 %

Shares of SBUX traded down $1.13 on Wednesday, reaching $80.20. 9,664,456 shares of the company’s stock traded hands, compared to its average volume of 10,570,362. The stock has a market cap of $90.84 billion, a PE ratio of 22.09, a PEG ratio of 1.78 and a beta of 0.96. The stock’s 50 day simple moving average is $80.73 and its two-hundred day simple moving average is $88.95. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUXGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the prior year, the firm posted $0.74 EPS. The business’s revenue was down 1.8% on a year-over-year basis. Analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on SBUX. Piper Sandler lowered their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. BTIG Research cut their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. UBS Group decreased their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Jefferies Financial Group dropped their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Finally, Robert W. Baird decreased their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.00.

Read Our Latest Report on SBUX

About Starbucks

(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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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