Mogy Joel R Investment Counsel Inc. Sells 27,765 Shares of Starbucks Co. (NASDAQ:SBUX)

Mogy Joel R Investment Counsel Inc. decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.3% during the third quarter, Holdings Channel reports. The firm owned 271,613 shares of the coffee company’s stock after selling 27,765 shares during the quarter. Starbucks comprises about 1.6% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 21st biggest position. Mogy Joel R Investment Counsel Inc.’s holdings in Starbucks were worth $26,480,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board purchased a new stake in Starbucks during the first quarter valued at approximately $415,167,000. Marshall Wace LLP boosted its position in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after acquiring an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in Starbucks in the 2nd quarter valued at $243,910,000. Flossbach Von Storch AG lifted its stake in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares in the last quarter. Finally, Capital World Investors bought a new position in shares of Starbucks during the 1st quarter valued at about $257,721,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.6 %

Shares of NASDAQ:SBUX opened at $96.84 on Friday. The business’s 50 day moving average is $94.90 and its 200 day moving average is $84.73. The stock has a market cap of $109.69 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SBUX shares. BMO Capital Markets lifted their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Finally, Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $102.44.

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.