Burns J W & Co. Inc. NY Has $6.81 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Burns J W & Co. Inc. NY decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,849 shares of the coffee company’s stock after selling 5,953 shares during the period. Burns J W & Co. Inc. NY’s holdings in Starbucks were worth $6,810,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Thrive Wealth Management LLC grew its stake in shares of Starbucks by 17.0% in the third quarter. Thrive Wealth Management LLC now owns 4,236 shares of the coffee company’s stock worth $413,000 after acquiring an additional 615 shares during the last quarter. Rockland Trust Co. grew its stake in shares of Starbucks by 4.2% in the third quarter. Rockland Trust Co. now owns 275,349 shares of the coffee company’s stock worth $26,844,000 after acquiring an additional 11,032 shares during the last quarter. Alpha Omega Wealth Management LLC acquired a new stake in shares of Starbucks in the third quarter worth $212,000. Bright Rock Capital Management LLC acquired a new stake in Starbucks during the third quarter worth $9,749,000. Finally, Curbstone Financial Management Corp boosted its stake in Starbucks by 1.9% during the third quarter. Curbstone Financial Management Corp now owns 12,510 shares of the coffee company’s stock worth $1,220,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SBUX. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. The Goldman Sachs Group began coverage on shares of Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. Finally, Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.12.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX traded up $1.02 on Friday, hitting $96.58. 6,819,465 shares of the stock were exchanged, compared to its average volume of 11,699,863. The stock has a market capitalization of $109.40 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 2.33 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The company’s 50-day moving average price is $90.91 and its 200 day moving average price is $84.44.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. As a group, equities research analysts predict that Starbucks Co. will post 3.56 earnings per share 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.