Carnick & Kubik Group LLC Has $6.10 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Carnick & Kubik Group LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,998 shares of the coffee company’s stock after selling 3,796 shares during the quarter. Starbucks makes up approximately 1.1% of Carnick & Kubik Group LLC’s holdings, making the stock its 20th biggest holding. Carnick & Kubik Group LLC’s holdings in Starbucks were worth $6,101,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Icon Wealth Partners LLC increased its position in shares of Starbucks by 19.2% during the 3rd quarter. Icon Wealth Partners LLC now owns 4,430 shares of the coffee company’s stock worth $392,000 after purchasing an additional 713 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of Starbucks by 60.4% during the 3rd quarter. AdvisorNet Financial Inc now owns 8,053 shares of the coffee company’s stock worth $712,000 after purchasing an additional 3,031 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Starbucks during the 3rd quarter worth about $83,893,000. Alberta Investment Management Corp increased its position in shares of Starbucks by 932.3% during the 3rd quarter. Alberta Investment Management Corp now owns 137,300 shares of the coffee company’s stock worth $12,140,000 after purchasing an additional 124,000 shares in the last quarter. Finally, Black Diamond Financial LLC acquired a new stake in shares of Starbucks during the 3rd quarter worth about $243,000. Institutional investors and hedge funds own 70.76% of the company’s stock.

In related news, insider Kevin R. Johnson sold 23,390 shares of Starbucks stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $98.32, for a total transaction of $2,299,704.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jill Walker sold 6,492 shares of Starbucks stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $95.70, for a total transaction of $621,284.40. The disclosure for this sale can be found here. Insiders have sold a total of 142,767 shares of company stock worth $13,730,357 in the last three months. 3.98% of the stock is owned by insiders.

A number of brokerages recently issued reports on SBUX. Barclays increased their target price on shares of Starbucks from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. BidaskClub cut shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. ValuEngine cut shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. cut shares of Starbucks from an “overweight” rating to a “neutral” rating in a research report on Monday, July 29th. Finally, Cleveland Research restated a “hold” rating on shares of Starbucks in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $90.10.

Shares of NASDAQ:SBUX opened at $83.18 on Friday. Starbucks Co. has a one year low of $57.39 and a one year high of $99.72. The company has a 50 day moving average of $88.57 and a 200-day moving average of $86.01. The stock has a market cap of $99.90 billion, a price-to-earnings ratio of 34.37, a P/E/G ratio of 2.04 and a beta of 0.53.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. Starbucks had a net margin of 13.63% and a negative return on equity of 125.91%. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the company earned $0.62 EPS. Starbucks’s revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts anticipate that Starbucks Co. will post 2.83 EPS for the current year.

About Starbucks

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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