Bulltick Wealth Management LLC Boosts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Bulltick Wealth Management LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 14.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,213 shares of the coffee company’s stock after buying an additional 13,866 shares during the quarter. Starbucks comprises 2.1% of Bulltick Wealth Management LLC’s investment portfolio, making the stock its 17th biggest position. Bulltick Wealth Management LLC’s holdings in Starbucks were worth $8,502,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Versant Capital Management Inc lifted its holdings in shares of Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after buying an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its position in shares of Starbucks by 2.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after purchasing an additional 127 shares in the last quarter. Carolinas Wealth Consulting LLC increased its holdings in shares of Starbucks by 4.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock worth $275,000 after purchasing an additional 133 shares during the period. Edge Capital Group LLC raised its position in shares of Starbucks by 3.4% in the fourth quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after buying an additional 134 shares in the last quarter. Finally, M&R Capital Management Inc. boosted its stake in Starbucks by 30.9% during the second quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after buying an additional 134 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Activity

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Barclays raised their price target on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Wedbush reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. Jefferies Financial Group cut their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, The Goldman Sachs Group started coverage on shares of Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.08.

Starbucks Price Performance

SBUX opened at $96.05 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The business has a 50 day simple moving average of $86.67 and a two-hundred day simple moving average of $84.09. The firm has a market capitalization of $108.84 billion, a price-to-earnings ratio of 26.46, a PEG 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 3.56 EPS for the current fiscal year.

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.