Beacon Capital Management LLC grew its position in Starbucks Co. (NASDAQ:SBUX – Free Report) by 33.8% in the second quarter, HoldingsChannel.com reports. The firm owned 1,331 shares of the coffee company’s stock after acquiring an additional 336 shares during the period. Beacon Capital Management LLC’s holdings in Starbucks were worth $132,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Advisory Alpha LLC boosted its stake in Starbucks by 4.5% during the 1st quarter. Advisory Alpha LLC now owns 2,152 shares of the coffee company’s stock valued at $224,000 after purchasing an additional 92 shares during the period. Western Pacific Wealth Management LP boosted its position in shares of Starbucks by 4.2% during the first quarter. Western Pacific Wealth Management LP now owns 2,379 shares of the coffee company’s stock worth $248,000 after buying an additional 95 shares during the period. FLC Capital Advisors grew its holdings in Starbucks by 1.2% in the 1st quarter. FLC Capital Advisors now owns 8,310 shares of the coffee company’s stock worth $865,000 after buying an additional 99 shares in the last quarter. Investment Advisory Services Inc. TX ADV increased its position in Starbucks by 0.7% in the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 14,194 shares of the coffee company’s stock valued at $1,408,000 after acquiring an additional 100 shares during the period. Finally, Piscataqua Savings Bank raised its stake in Starbucks by 11.3% during the 1st quarter. Piscataqua Savings Bank now owns 985 shares of the coffee company’s stock valued at $103,000 after acquiring an additional 100 shares in the last quarter. 70.13% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on SBUX. TD Cowen downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $117.00 to $107.00 in a report on Tuesday. Wells Fargo & Company reduced their price target on shares of Starbucks from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, July 19th. Stifel Nicolaus lowered their price objective on shares of Starbucks from $117.00 to $110.00 and set a “hold” rating on the stock in a research note on Wednesday, August 2nd. Morgan Stanley restated an “equal weight” rating and issued a $104.00 target price on shares of Starbucks in a research report on Wednesday, August 2nd. Finally, Barclays lowered their price target on Starbucks from $127.00 to $123.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.76.
Insider Buying and Selling at Starbucks
In related news, CFO Rachel Ruggeri sold 679 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total transaction of $68,307.40. Following the sale, the chief financial officer now directly owns 54,761 shares in the company, valued at $5,508,956.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.98% of the company’s stock.
Starbucks Stock Down 2.0 %
Starbucks stock traded down $1.96 during midday trading on Tuesday, hitting $94.80. 1,200,984 shares of the stock were exchanged, compared to its average volume of 6,203,236. The stock has a market capitalization of $108.58 billion, a PE ratio of 29.50, a P/E/G ratio of 1.69 and a beta of 0.93. The company has a fifty day simple moving average of $99.19 and a two-hundred day simple moving average of $101.43. Starbucks Co. has a 52 week low of $82.43 and a 52 week high of $115.48.
Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The coffee company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.95 by $0.05. The business had revenue of $9.17 billion for the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a negative return on equity of 44.46% and a net margin of 10.81%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 3.45 EPS for the current fiscal year.
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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