Bard Financial Services Inc. Sells 6,935 Shares of Starbucks Co. (NASDAQ:SBUX)

Bard Financial Services Inc. lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 8.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,303 shares of the coffee company’s stock after selling 6,935 shares during the quarter. Bard Financial Services Inc.’s holdings in Starbucks were worth $7,049,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the 2nd quarter valued at about $25,000. New Millennium Group LLC bought a new position in Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC boosted its stake in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Starbucks during the 2nd quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC bought a new position in Starbucks during the 2nd quarter worth approximately $31,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Wedbush reduced their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Stifel Nicolaus raised their target price on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.1 %

NASDAQ:SBUX opened at $98.09 on Wednesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The firm has a fifty day simple moving average of $98.12 and a 200 day simple moving average of $89.05. The stock has a market capitalization of $111.21 billion, a PE ratio of 29.66, a P/E/G ratio of 2.94 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the business posted $1.06 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts predict that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

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.