Pacer Advisors Inc. Has $10.44 Million Position in Starbucks Co. (NASDAQ:SBUX)

Pacer Advisors Inc. boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 134,130 shares of the coffee company’s stock after acquiring an additional 1,182 shares during the period. Pacer Advisors Inc.’s holdings in Starbucks were worth $10,442,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AE Wealth Management LLC increased its holdings in Starbucks by 42.1% in the second quarter. AE Wealth Management LLC now owns 23,099 shares of the coffee company’s stock valued at $1,798,000 after purchasing an additional 6,841 shares during the last quarter. Bridges Investment Management Inc. increased its stake in shares of Starbucks by 21.0% in the 2nd quarter. Bridges Investment Management Inc. now owns 4,312 shares of the coffee company’s stock valued at $336,000 after acquiring an additional 747 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Starbucks by 27.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,808,671 shares of the coffee company’s stock valued at $140,805,000 after acquiring an additional 394,267 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Starbucks by 9.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 115,435 shares of the coffee company’s stock worth $8,987,000 after acquiring an additional 9,753 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in Starbucks by 3.9% during the second quarter. Brighton Jones LLC now owns 154,017 shares of the coffee company’s stock valued at $11,990,000 after purchasing an additional 5,715 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.9 %

NASDAQ:SBUX opened at $96.05 on Monday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a market capitalization of $108.84 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 2.31 and a beta of 0.96. The stock’s 50 day moving average price is $86.67 and its two-hundred day moving average price is $83.99.

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, meeting the consensus estimate of $0.93. The business 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%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. Equities research analysts expect that Starbucks Co. will post 3.56 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on SBUX. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. The Goldman Sachs Group started coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group cut their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $100.08.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The disclosure for this sale can be found here. 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.