Benjamin F. Edwards & Company Inc. Buys 9,753 Shares of Starbucks Co. (NASDAQ:SBUX)

Benjamin F. Edwards & Company Inc. raised its stake in Starbucks Co. (NASDAQ:SBUX) by 9.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,435 shares of the coffee company’s stock after acquiring an additional 9,753 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Starbucks were worth $8,987,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SBUX. Cox Capital Mgt LLC increased its holdings in shares of Starbucks by 41.9% during the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after buying an additional 13,372 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in Starbucks during the 4th quarter valued at $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new stake in Starbucks during the 4th quarter valued at $31,246,000. Fidelis Capital Partners LLC raised its position in Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 1,751 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC acquired a new position in Starbucks in the fourth quarter worth $4,048,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 0.9 %

Shares of SBUX stock opened at $96.05 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a fifty day moving average of $86.67 and a 200-day moving average of $84.09. The firm has a market capitalization of $108.84 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research note on Wednesday, August 21st. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Finally, Citigroup increased their price objective on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.08.

Insiders Place Their Bets

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

About Starbucks

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.