Marshall Wace LLP Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Marshall Wace LLP boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 1,466.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,350,932 shares of the coffee company’s stock after purchasing an additional 3,136,992 shares during the period. Marshall Wace LLP owned about 0.30% of Starbucks worth $260,870,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cox Capital Mgt LLC lifted its position 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 buying an additional 13,372 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of Starbucks during the 4th quarter valued at $2,781,000. Sanibel Captiva Trust Company Inc. purchased a new position in shares of Starbucks during the 4th quarter valued at $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 valued at $1,016,000 after buying an additional 1,751 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC purchased a new position in shares of Starbucks during the 4th quarter valued at $4,048,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

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 transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now 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 currently owned by company insiders.

Starbucks Trading Down 0.6 %

Shares of Starbucks stock opened at $95.48 on Tuesday. The firm 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 business’s 50-day moving average price is $87.12 and its 200-day moving average price is $84.02. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

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

Analyst Ratings Changes

A number of brokerages have recently commented on SBUX. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 21st. Citigroup increased their price objective on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Finally, Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.08.

Starbucks 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.