Providence Capital Advisors LLC Buys 5,400 Shares of Starbucks Co. (NASDAQ:SBUX)

Providence Capital Advisors LLC lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,930 shares of the coffee company’s stock after purchasing an additional 5,400 shares during the quarter. Providence Capital Advisors LLC’s holdings in Starbucks were worth $4,899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cox Capital Mgt LLC boosted its holdings in shares of Starbucks by 41.9% in the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares during the period. Brevan Howard Capital Management LP bought a new stake in shares of Starbucks during the 4th quarter worth approximately $2,781,000. Sanibel Captiva Trust Company Inc. bought a new stake in shares of Starbucks during the 4th quarter worth approximately $31,246,000. Fidelis Capital Partners LLC lifted 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 acquiring an additional 1,751 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC bought a new stake in shares of Starbucks during the 4th quarter worth approximately $4,048,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX stock opened at $95.48 on Tuesday. 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 $108.15 billion, a P/E ratio of 26.30, a P/E/G ratio of 2.31 and a beta of 0.96. The company’s fifty day moving average price is $87.12 and its two-hundred day moving average price is $84.02.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’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 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SBUX. Morgan Stanley reissued an “overweight” rating and set a $98.00 price target on shares of Starbucks in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. BMO Capital Markets lifted their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. decreased their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $100.08.

Insider Activity

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’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 sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’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 approximately $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Company 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.