APG Asset Management N.V. Has $111.26 Million Stake in Starbucks Co. (NASDAQ:SBUX)

APG Asset Management N.V. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,531,696 shares of the coffee company’s stock after selling 45,953 shares during the period. APG Asset Management N.V. owned 0.14% of Starbucks worth $111,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SBUX. Alley Investment Management Company LLC increased its stake in Starbucks by 1.1% in the 2nd quarter. Alley Investment Management Company LLC now owns 144,115 shares of the coffee company’s stock valued at $11,219,000 after buying an additional 1,620 shares during the period. Fred Alger Management LLC grew its holdings in shares of Starbucks by 3.7% during the 2nd quarter. Fred Alger Management LLC now owns 42,650 shares of the coffee company’s stock valued at $3,320,000 after acquiring an additional 1,503 shares in the last quarter. Sfmg LLC increased its stake in shares of Starbucks by 3.0% in the second quarter. Sfmg LLC now owns 38,452 shares of the coffee company’s stock worth $2,994,000 after acquiring an additional 1,109 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Starbucks by 59.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 216,867 shares of the coffee company’s stock worth $16,883,000 after acquiring an additional 81,233 shares in the last quarter. Finally, Semmax Financial Advisors Inc. boosted its position in Starbucks by 12.9% during the second quarter. Semmax Financial Advisors Inc. now owns 60,333 shares of the coffee company’s stock valued at $4,697,000 after purchasing an additional 6,916 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, 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 completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on SBUX. The Goldman Sachs Group started coverage on Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price for the company. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research note on Wednesday, August 21st. Citigroup raised their price objective on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $100.52.

Starbucks Stock Up 1.9 %

Shares of SBUX stock opened at $97.47 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The company has a market cap of $110.45 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96. The firm has a 50 day moving average of $87.91 and a 200-day moving average of $84.13.

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