Smith Anglin Financial LLC Buys 190 Shares of Starbucks Co. (NASDAQ:SBUX)

Smith Anglin Financial LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 7.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,772 shares of the coffee company’s stock after purchasing an additional 190 shares during the quarter. Smith Anglin Financial LLC’s holdings in Starbucks were worth $270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Everpar Advisors LLC grew its position in Starbucks by 10.9% during the 3rd quarter. Everpar Advisors LLC now owns 5,014 shares of the coffee company’s stock valued at $489,000 after purchasing an additional 494 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Starbucks by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 15,105 shares of the coffee company’s stock valued at $1,473,000 after purchasing an additional 2,417 shares during the period. Thrive Wealth Management LLC lifted its position 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 valued at $413,000 after acquiring an additional 615 shares in the last quarter. Rockland Trust Co. boosted its stake in Starbucks by 4.2% in the 3rd quarter. Rockland Trust Co. now owns 275,349 shares of the coffee company’s stock worth $26,844,000 after purchasing an additional 11,032 shares during the period. Finally, Alpha Omega Wealth Management LLC purchased a new position in Starbucks during the third quarter valued at $212,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of a number of research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $98.00 price objective on shares of Starbucks in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Thursday, September 12th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, Wedbush reissued a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $101.12.

Starbucks Price Performance

NASDAQ:SBUX opened at $96.09 on Tuesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The stock’s 50-day moving average is $90.91 and its two-hundred day moving average is $84.33. The stock has a market cap of $108.84 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97.

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, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for 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 quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 earnings per share. On average, equities research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $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. 1.98% of the stock is owned by corporate insiders.

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.