DRW Securities LLC Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

DRW Securities LLC lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 20.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,609 shares of the coffee company’s stock after acquiring an additional 1,130 shares during the quarter. DRW Securities LLC’s holdings in Starbucks were worth $513,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Gryphon Financial Partners LLC boosted its stake in shares of Starbucks by 96.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock valued at $508,000 after purchasing an additional 2,558 shares during the period. TrinityPoint Wealth LLC bought a new stake in Starbucks in the 4th quarter worth $230,000. Congress Wealth Management LLC DE raised its stake in shares of Starbucks by 115.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 15,961 shares of the coffee company’s stock valued at $1,533,000 after acquiring an additional 8,551 shares during the last quarter. DSM Capital Partners LLC purchased a new stake in shares of Starbucks during the fourth quarter worth about $27,000. Finally, Bell & Brown Wealth Advisors LLC bought a new stake in shares of Starbucks in the fourth quarter worth about $4,048,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. JPMorgan Chase & Co. cut their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price objective on shares of Starbucks in a research report 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $100.08.

Insider Activity

In other news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now 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 can be accessed through this link. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.6 %

Shares of NASDAQ:SBUX opened at $95.48 on Tuesday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a market capitalization of $108.15 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. The firm’s 50 day moving average price is $87.12 and its 200-day moving average price is $84.02.

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

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.