E Fund Management Co. Ltd. Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

E Fund Management Co. Ltd. lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,347 shares of the coffee company’s stock after purchasing an additional 204 shares during the period. E Fund Management Co. Ltd.’s holdings in Starbucks were worth $883,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Gryphon Financial Partners LLC increased its stake in shares of Starbucks by 96.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after purchasing an additional 2,558 shares in the last quarter. TrinityPoint Wealth LLC purchased a new stake in shares of Starbucks in the 4th quarter worth $230,000. Hillsdale Investment Management Inc. increased its stake in shares of Starbucks by 5.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 3,269 shares of the coffee company’s stock worth $314,000 after purchasing an additional 180 shares in the last quarter. Assetmark Inc. increased its stake in shares of Starbucks by 14.5% in the 4th quarter. Assetmark Inc. now owns 95,372 shares of the coffee company’s stock worth $9,157,000 after purchasing an additional 12,089 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Starbucks by 2.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 12,697 shares of the coffee company’s stock worth $1,219,000 after buying an additional 324 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Down 0.3 %

Shares of NASDAQ:SBUX opened at $96.12 on Thursday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a 50-day moving average price of $85.77 and a 200 day moving average price of $83.98. The company has a market cap of $108.92 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 2.38 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced its 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. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts forecast that Starbucks Co. will post 3.56 EPS for the current year.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SBUX. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. The Goldman Sachs Group began coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. Robert W. Baird upgraded 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 note on Tuesday, August 13th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $100.08.

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.