Legacy Financial Advisors Inc. Buys 2,587 Shares of Starbucks Co. (NASDAQ:SBUX)

Legacy Financial Advisors Inc. lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 32.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,497 shares of the coffee company’s stock after purchasing an additional 2,587 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Starbucks were worth $817,000 as of its most recent filing with the Securities and Exchange Commission.

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

Starbucks Trading Down 0.9 %

Shares of Starbucks stock opened at $96.05 on Friday. The stock’s fifty day simple moving average is $86.67 and its 200 day simple moving average is $84.09. The company has a market capitalization of $108.84 billion, a PE ratio of 26.46, a PEG ratio of 2.31 and a beta of 0.96. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last released 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. 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 for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the firm posted $1.00 earnings per share. Starbucks’s revenue was down .6% compared to the same quarter last year. Analysts predict that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. BMO Capital Markets lifted their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Citigroup boosted their price target on shares of Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Evercore ISI raised 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 report on Wednesday, August 14th. Finally, Wedbush reiterated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $100.08.

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.