Northwestern Mutual Wealth Management Co. Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Northwestern Mutual Wealth Management Co. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 494,636 shares of the coffee company’s stock after selling 292 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Starbucks were worth $38,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of SBUX. Vima LLC bought a new position in shares of Starbucks during the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new position in shares of Starbucks during the 4th quarter valued at approximately $26,000. New Millennium Group LLC bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $26,000. Stephens Consulting LLC increased its position in shares of Starbucks by 498.2% during the 2nd 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, Hobbs Group Advisors LLC bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $27,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $97.49 on Tuesday. The stock has a market capitalization of $110.43 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The business has a fifty day moving average price of $89.16 and a 200 day moving average price of $84.19.

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

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction on 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 completion of the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wedbush reissued a “neutral” rating and set a $80.00 target price on shares of Starbucks in a research report on Tuesday, August 13th. JPMorgan Chase & Co. upped their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.12.

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.