Lazari Capital Management Inc. Grows Holdings in Starbucks Co. (NASDAQ:SBUX)

Lazari Capital Management Inc. grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,738 shares of the coffee company’s stock after purchasing an additional 2,044 shares during the period. Lazari Capital Management Inc.’s holdings in Starbucks were worth $1,381,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in Starbucks in the fourth quarter worth $26,000. Vima LLC purchased a new stake in Starbucks in the fourth quarter worth $26,000. Fairman Group LLC purchased a new stake in Starbucks in the fourth quarter worth $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the second quarter worth $25,000. Finally, Raleigh Capital Management Inc. increased its stake in Starbucks by 150.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 198 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $97.43 on Wednesday. The company has a market cap of $110.41 billion, a PE ratio of 26.84, a P/E/G ratio of 2.33 and a beta of 0.96. The business has a 50-day simple moving average of $89.58 and a two-hundred day simple moving average of $84.24. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the company earned $1.00 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts predict that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Thursday, September 12th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, DZ Bank lowered 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. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $101.12.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Jorgen Vig Knudstorp purchased 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, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, 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. Corporate insiders own 1.98% of the company’s stock.

Starbucks Company 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.