EverSource Wealth Advisors LLC Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

EverSource Wealth Advisors LLC grew its stake in Starbucks Co. (NASDAQ:SBUX) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,591 shares of the coffee company’s stock after acquiring an additional 627 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Starbucks were worth $981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SBUX. Versant Capital Management Inc increased its stake in Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after purchasing an additional 122 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its stake in Starbucks by 2.0% in the first 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 during the last quarter. Carolinas Wealth Consulting LLC increased its stake in Starbucks by 4.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after purchasing an additional 133 shares during the last quarter. Edge Capital Group LLC increased its stake in Starbucks by 3.4% in the fourth quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock valued at $390,000 after purchasing an additional 134 shares during the last quarter. Finally, M&R Capital Management Inc. increased its stake in Starbucks by 30.9% in the second quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after purchasing an additional 134 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $96.05 on Monday. The company has a market capitalization of $108.84 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.31 and a beta of 0.96. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The stock has a 50-day moving average price of $86.67 and a 200 day moving average price of $83.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.00 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Activity at Starbucks

In related news, 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 value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the 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 owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wedbush reiterated a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group assumed coverage on Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price target for the company. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $100.08.

Starbucks Company 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.