Brevan Howard Capital Management LP Buys New Position in Starbucks Co. (NASDAQ:SBUX)

Brevan Howard Capital Management LP bought a new stake in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 28,970 shares of the coffee company’s stock, valued at approximately $2,781,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SBUX. One Capital Management LLC raised its stake in Starbucks by 2.0% in the third quarter. One Capital Management LLC now owns 51,624 shares of the coffee company’s stock valued at $4,712,000 after purchasing an additional 992 shares in the last quarter. Cornerstone Advisors LLC raised its stake in shares of Starbucks by 7.6% during the third quarter. Cornerstone Advisors LLC now owns 50,700 shares of the coffee company’s stock worth $4,627,000 after acquiring an additional 3,600 shares in the last quarter. Fiera Capital Corp raised its stake in shares of Starbucks by 1.1% during the third quarter. Fiera Capital Corp now owns 39,499 shares of the coffee company’s stock worth $3,605,000 after acquiring an additional 443 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Starbucks by 2.1% during the third quarter. Rhumbline Advisers now owns 2,305,190 shares of the coffee company’s stock worth $210,395,000 after acquiring an additional 47,747 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its stake in shares of Starbucks by 33.8% during the third quarter. Catalyst Capital Advisors LLC now owns 848 shares of the coffee company’s stock worth $77,000 after acquiring an additional 214 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SBUX shares. Bank of America raised their target price on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group cut their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Guggenheim cut their target price on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Wells Fargo & Company cut their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Finally, Stifel Nicolaus cut their price target on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $95.00.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $80.24 on Friday. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The business has a 50-day simple moving average of $81.13 and a two-hundred day simple moving average of $89.53. The firm has a market cap of $90.89 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 1.78 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period last year, the firm posted $0.74 EPS. Starbucks’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, research analysts predict that Starbucks Co. will post 3.59 earnings per share for the current year.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,750 shares of company stock valued at $642,050. 1.98% of the stock is owned by insiders.

Starbucks 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.