Strategy Asset Managers LLC Invests $317,000 in Starbucks Co. (NASDAQ:SBUX)

Posted by on Jun 23rd, 2022

Strategy Asset Managers LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,484 shares of the coffee company’s stock, valued at approximately $317,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PYA Waltman Capital LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $25,000. Rational Advisors LLC boosted its stake in Starbucks by 141.4% during the 4th quarter. Rational Advisors LLC now owns 210 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 123 shares during the period. Guardian Wealth Management Inc. bought a new stake in Starbucks during the 4th quarter valued at approximately $25,000. Steward Financial Group LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $25,000. Finally, Delos Wealth Advisors LLC bought a new stake in Starbucks during the 4th quarter valued at approximately $28,000. Institutional investors own 69.21% of the company’s stock.

NASDAQ SBUX opened at $73.30 on Thursday. The company has a market capitalization of $84.07 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 2.11 and a beta of 0.97. Starbucks Co. has a twelve month low of $68.39 and a twelve month high of $126.32. The stock has a fifty day simple moving average of $75.53 and a 200 day simple moving average of $89.88.

Starbucks (NASDAQ:SBUX – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The coffee company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.60 billion. Starbucks had a net margin of 14.07% and a negative return on equity of 53.43%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share. Sell-side analysts anticipate that Starbucks Co. will post 2.89 earnings per share for the current year.

In other news, CEO Howard D. Schultz acquired 72,500 shares of the firm’s stock in a transaction on Thursday, May 12th. The stock was purchased at an average price of $68.85 per share, for a total transaction of $4,991,625.00. Following the purchase, the chief executive officer now owns 19,606,960 shares in the company, valued at approximately $1,349,939,196. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Howard D. Schultz acquired 137,500 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was purchased at an average price of $72.67 per share, with a total value of $9,992,125.00. Following the purchase, the chief executive officer now owns 19,534,460 shares in the company, valued at approximately $1,419,569,208.20. The disclosure for this purchase can be found here. 0.27% of the stock is owned by corporate insiders.

SBUX has been the subject of a number of research reports. Robert W. Baird reduced their price objective on Starbucks from $95.00 to $85.00 in a research report on Monday, April 25th. JPMorgan Chase & Co. upgraded Starbucks from a “neutral” rating to an “overweight” rating and set a $101.00 price objective for the company in a research report on Wednesday, March 16th. StockNews.com cut Starbucks from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Morgan Stanley dropped their target price on Starbucks from $94.00 to $87.00 in a report on Wednesday, May 4th. Finally, Citigroup dropped their price target on Starbucks from $91.00 to $76.00 in a report on Wednesday, May 4th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $102.72.

About Starbucks (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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