Jacobs & Co. CA Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Jacobs & Co. CA grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,132 shares of the coffee company’s stock after acquiring an additional 7,814 shares during the period. Starbucks comprises approximately 1.6% of Jacobs & Co. CA’s holdings, making the stock its 13th biggest position. Jacobs & Co. CA’s holdings in Starbucks were worth $16,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Versant Capital Management Inc increased its holdings in shares of Starbucks by 7.9% during the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after buying an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its position in Starbucks by 2.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after acquiring an additional 127 shares during the last quarter. Edge Capital Group LLC increased its holdings in Starbucks by 3.4% during the 4th quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock valued at $390,000 after purchasing an additional 134 shares in the last quarter. M&R Capital Management Inc. raised its position in Starbucks by 30.9% in the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after purchasing an additional 134 shares during the last quarter. Finally, Fragasso Financial Advisors Inc raised its position in Starbucks by 1.1% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock valued at $999,000 after purchasing an additional 135 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SBUX shares. Citigroup raised their price objective on shares of Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Finally, DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $101.12.

Starbucks Stock Performance

Shares of SBUX stock opened at $96.50 on Thursday. The company has a market capitalization of $109.31 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. The business’s fifty day moving average is $90.02 and its 200 day moving average is $84.32. Starbucks Co. has a 52-week low of $71.55 and a 52-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 (EPS) for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. On average, sell-side analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of 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 legal filing with the SEC, which is accessible 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 shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value 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 $5,697,682.32. The disclosure for this sale can be found here. Company 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.