Semmax Financial Advisors Inc. Purchases 6,916 Shares of Starbucks Co. (NASDAQ:SBUX)

Semmax Financial Advisors Inc. increased its position in Starbucks Co. (NASDAQ:SBUX) by 12.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,333 shares of the coffee company’s stock after acquiring an additional 6,916 shares during the period. Starbucks comprises approximately 1.4% of Semmax Financial Advisors Inc.’s holdings, making the stock its 19th largest position. Semmax Financial Advisors Inc.’s holdings in Starbucks were worth $4,697,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SBUX. Cox Capital Mgt LLC lifted its stake in 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 during the period. Brevan Howard Capital Management LP purchased a new position in Starbucks in the fourth quarter worth about $2,781,000. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of Starbucks during the 4th quarter valued at about $31,246,000. Fidelis Capital Partners LLC boosted its holdings in shares of Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC purchased a new stake in Starbucks during the fourth quarter valued at approximately $4,048,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent research reports. The Goldman Sachs Group assumed coverage on Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective for the company. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Thursday, September 12th. Finally, Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $100.08.

Insider Activity

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on 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 directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on 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 directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were 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 disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.6 %

Shares of SBUX opened at $95.48 on Tuesday. The firm has a market cap of $108.15 billion, a PE ratio of 26.30, a P/E/G ratio of 2.31 and a beta of 0.96. The stock has a fifty day moving average price of $87.12 and a 200-day moving average price of $84.02. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly 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. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the previous year, the business earned $1.00 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts forecast that Starbucks Co. will post 3.56 EPS for the current year.

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.