Strategic Wealth Partners Ltd. Acquires 456 Shares of Starbucks Co. (NASDAQ:SBUX)

Strategic Wealth Partners Ltd. increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,369 shares of the coffee company’s stock after acquiring an additional 456 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Starbucks were worth $8,713,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter valued at about $25,000. Vima LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. New Millennium Group LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $26,000. Finally, Stephens Consulting LLC boosted its stake in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Up 0.1 %

NASDAQ:SBUX opened at $96.21 on Wednesday. The firm has a market capitalization of $108.98 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.12 and a beta of 0.97. The company has a fifty day moving average of $91.33 and a 200-day moving average of $84.36. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.00 EPS. On average, analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SBUX. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price target for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. BMO Capital Markets raised their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, The Goldman Sachs Group began coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price on the stock. Two 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.16.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This represents 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 currently owned by company 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.