LJI Wealth Management LLC Has $294,000 Position in Starbucks Co. (NASDAQ:SBUX)

LJI Wealth Management LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,778 shares of the coffee company’s stock after selling 245 shares during the quarter. LJI Wealth Management LLC’s holdings in Starbucks were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after purchasing an additional 470,498 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Starbucks by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock valued at $1,090,654,000 after acquiring an additional 260,489 shares during the last quarter. Flossbach Von Storch AG grew its position in Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Nordea Investment Management AB grew its position in Starbucks by 5.2% in the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after acquiring an additional 266,570 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Starbucks by 12.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 5,254,384 shares of the coffee company’s stock worth $504,473,000 after purchasing an additional 574,763 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 approximately $3,316,143. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SBUX shares. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Morgan Stanley reissued an “overweight” rating and set a $98.00 price objective on shares of Starbucks in a report on Wednesday, July 31st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Bank of America increased their price target on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.08.

Starbucks Trading Down 0.3 %

NASDAQ SBUX opened at $96.12 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The company has a market capitalization of $108.92 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 2.38 and a beta of 0.96. The stock’s 50 day moving average is $85.77 and its two-hundred day moving average is $83.98.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 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 for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts predict that Starbucks Co. will post 3.56 earnings per share for the current year.

About Starbucks

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.