Tealwood Asset Management Inc. Takes Position in Starbucks Co. (NASDAQ:SBUX)

Tealwood Asset Management Inc. purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,563 shares of the coffee company’s stock, valued at approximately $1,322,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Axiom Advisory LLC lifted its stake in shares of Starbucks by 2.0% in the third quarter. Axiom Advisory LLC now owns 7,573 shares of the coffee company’s stock worth $738,000 after acquiring an additional 150 shares in the last quarter. Alpha Cubed Investments LLC increased its holdings in Starbucks by 45.2% during the 3rd quarter. Alpha Cubed Investments LLC now owns 42,879 shares of the coffee company’s stock worth $4,180,000 after purchasing an additional 13,353 shares during the last quarter. Exeter Financial LLC raised its position in shares of Starbucks by 1.1% in the 3rd quarter. Exeter Financial LLC now owns 15,894 shares of the coffee company’s stock valued at $1,550,000 after purchasing an additional 168 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Starbucks by 34.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,979 shares of the coffee company’s stock valued at $193,000 after buying an additional 504 shares during the last quarter. Finally, New England Research & Management Inc. grew its position in shares of Starbucks by 77.7% during the third quarter. New England Research & Management Inc. now owns 11,719 shares of the coffee company’s stock worth $1,142,000 after buying an additional 5,125 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on SBUX shares. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Wedbush reissued a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Thursday, September 12th. Finally, Bank of America boosted their price target on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. 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 Down 0.5 %

SBUX stock traded down $0.44 during trading on Tuesday, reaching $95.65. 2,129,468 shares of the company’s stock were exchanged, compared to its average volume of 11,628,790. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The firm has a market cap of $108.34 billion, a PE ratio of 26.36, a P/E/G ratio of 2.12 and a beta of 0.97. The company’s fifty day moving average price is $91.33 and its 200-day moving average price is $84.36.

Starbucks (NASDAQ:SBUX) last posted 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 business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

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.