Starbucks Co. (NASDAQ:SBUX) Stake Increased by Holderness Investments Co.

Holderness Investments Co. increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,748 shares of the coffee company’s stock after buying an additional 280 shares during the quarter. Holderness Investments Co.’s holdings in Starbucks were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Cox Capital Mgt LLC grew 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 valued at $4,142,000 after acquiring an additional 13,372 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in Starbucks in the fourth quarter valued at about $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new position in Starbucks in the 4th quarter worth about $31,246,000. Fidelis Capital Partners LLC raised its stake 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 purchasing an additional 1,751 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at about $4,048,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of Starbucks stock opened at $96.05 on Monday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market capitalization of $108.84 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. The company’s fifty day moving average price is $86.67 and its two-hundred day moving average price is $83.99.

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

Analysts Set New Price Targets

A number of research firms recently commented on SBUX. Jefferies Financial Group dropped their price objective on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.08.

Insider Transactions at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’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 transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, 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. 1.98% of the stock is currently owned by insiders.

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.