Merriman Wealth Management LLC Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

Merriman Wealth Management LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,677 shares of the coffee company’s stock after selling 845 shares during the quarter. Merriman Wealth Management LLC’s holdings in Starbucks were worth $2,270,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Abbrea Capital LLC grew its stake in shares of Starbucks by 1.9% during the 2nd quarter. Abbrea Capital LLC now owns 5,525 shares of the coffee company’s stock valued at $463,000 after purchasing an additional 105 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Starbucks by 0.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 38,395 shares of the coffee company’s stock valued at $3,219,000 after purchasing an additional 115 shares during the period. Duncker Streett & Co. Inc. grew its stake in shares of Starbucks by 0.4% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 30,160 shares of the coffee company’s stock valued at $2,528,000 after purchasing an additional 120 shares during the period. D.B. Root & Company LLC grew its stake in shares of Starbucks by 0.8% during the 2nd quarter. D.B. Root & Company LLC now owns 14,929 shares of the coffee company’s stock valued at $1,251,000 after purchasing an additional 122 shares during the period. Finally, Enterprise Bank & Trust Co grew its stake in shares of Starbucks by 4.8% during the 3rd quarter. Enterprise Bank & Trust Co now owns 2,725 shares of the coffee company’s stock valued at $241,000 after purchasing an additional 125 shares during the period. 70.80% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:SBUX opened at $86.03 on Friday. The stock has a 50 day moving average of $90.05 and a 200 day moving average of $85.71. The company has a market cap of $103.29 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 2.11 and a beta of 0.53. Starbucks Co. has a 12-month low of $57.39 and a 12-month high of $99.72.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the previous year, the company posted $0.62 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. On average, research analysts predict that Starbucks Co. will post 2.83 EPS for the current year.

In related news, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $88.63, for a total value of $883,906.99. Following the transaction, the director now directly owns 28,407 shares of the company’s stock, valued at approximately $2,517,712.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin R. Johnson sold 23,390 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $98.32, for a total value of $2,299,704.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,767 shares of company stock worth $13,730,357. 3.98% of the stock is owned by insiders.

A number of equities research analysts have issued reports on SBUX shares. OTR Global upgraded Starbucks to a “positive” rating in a research note on Tuesday, July 16th. Stifel Nicolaus boosted their price target on Starbucks from $86.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 26th. UBS Group boosted their price target on Starbucks from $78.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Citigroup started coverage on Starbucks in a research note on Wednesday, June 26th. They set a “buy” rating and a $83.65 price target for the company. Finally, BMO Capital Markets boosted their price target on Starbucks to $84.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $90.10.

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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

See Also: Which market index is the best?

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.