Hennessy Advisors Inc. cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,870 shares of the coffee company’s stock after selling 1,700 shares during the period. Hennessy Advisors Inc.’s holdings in Starbucks were worth $2,948,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Archford Capital Strategies LLC raised its stake in Starbucks by 669.7% during the second quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock worth $107,000 after purchasing an additional 1,902 shares during the period. Fort L.P. purchased a new stake in shares of Starbucks in the 2nd quarter valued at approximately $112,000. Trilogy Capital Inc. purchased a new stake in shares of Starbucks in the 1st quarter valued at approximately $135,000. Point72 Hong Kong Ltd purchased a new stake in shares of Starbucks in the 2nd quarter valued at approximately $115,000. Finally, Gables Capital Management Inc. purchased a new stake in shares of Starbucks in the 1st quarter valued at approximately $159,000. 71.90% of the stock is currently owned by institutional investors.

Shares of SBUX stock opened at $56.45 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $76.68 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 1.69 and a beta of 0.60. Starbucks Co. has a fifty-two week low of $47.37 and a fifty-two week high of $61.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 26th. The coffee company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.25 billion. Starbucks had a net margin of 18.87% and a return on equity of 67.11%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. As a group, research analysts predict that Starbucks Co. will post 2.4 EPS for the current year.

In related news, Director Javier G. Teruel sold 166,666 shares of Starbucks stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $52.70, for a total value of $8,783,298.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Myron E. Ullman III sold 15,000 shares of Starbucks stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $52.13, for a total transaction of $781,950.00. Following the completion of the transaction, the director now owns 29,000 shares of the company’s stock, valued at approximately $1,511,770. The disclosure for this sale can be found here. Insiders sold 295,832 shares of company stock valued at $15,834,037 in the last 90 days. Company insiders own 3.48% of the company’s stock.

A number of research firms have recently issued reports on SBUX. BMO Capital Markets set a $51.00 price target on shares of Starbucks and gave the company a “hold” rating in a research note on Monday, July 23rd. Barclays reduced their price target on shares of Starbucks from $60.00 to $57.00 and set a “$51.15” rating on the stock in a research note on Wednesday, July 18th. Telsey Advisory Group reduced their price target on shares of Starbucks from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 17th. Stifel Nicolaus reduced their price target on shares of Starbucks from $58.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, June 20th. Finally, Robert W. Baird reduced their price target on shares of Starbucks from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 20th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $60.35.

Starbucks Company 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 coffee and tea products, 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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