ICA Group Wealth Management LLC Has $159,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

ICA Group Wealth Management LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 79.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,039 shares of the coffee company’s stock after selling 7,985 shares during the period. ICA Group Wealth Management LLC’s holdings in Starbucks were worth $159,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vima LLC bought a new stake in Starbucks during the fourth quarter worth $26,000. Scarborough Advisors LLC purchased a new position in Starbucks during the 4th quarter worth $26,000. New Millennium Group LLC bought a new stake in shares of Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC raised its holdings in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Finally, DSM Capital Partners LLC bought a new position in shares of Starbucks during the fourth quarter valued at about $27,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Bank of America upped their price objective on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Citigroup upped their target price on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Morgan Stanley reiterated an “overweight” rating and set a $98.00 price target on shares of Starbucks in a report on Wednesday, July 31st. The Goldman Sachs Group began coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Jefferies Financial Group lowered their price objective on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

Starbucks Stock Performance

NASDAQ SBUX opened at $98.57 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The company has a fifty day moving average of $84.39 and a 200-day moving average of $83.92. The company has a market capitalization of $111.65 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.35 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. As a group, analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.