American Century Companies Inc. Has $14.87 Million Position in Starbucks Co. (NASDAQ:SBUX)

American Century Companies Inc. lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 92.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 190,996 shares of the coffee company’s stock after selling 2,241,513 shares during the period. American Century Companies Inc.’s holdings in Starbucks were worth $14,869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. raised its stake in Starbucks by 589.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 3,663 shares of the coffee company’s stock worth $285,000 after acquiring an additional 3,132 shares in the last quarter. Trifecta Capital Advisors LLC grew its holdings in shares of Starbucks by 3.9% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 28,925 shares of the coffee company’s stock worth $2,252,000 after purchasing an additional 1,099 shares during the last quarter. LPL Financial LLC lifted its holdings in Starbucks by 21.0% during the 2nd quarter. LPL Financial LLC now owns 1,863,431 shares of the coffee company’s stock valued at $145,068,000 after purchasing an additional 323,114 shares during the last quarter. Marco Investment Management LLC lifted its holdings in Starbucks by 7.7% during the 2nd quarter. Marco Investment Management LLC now owns 36,151 shares of the coffee company’s stock valued at $2,814,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Studio Investment Management LLC grew its stake in Starbucks by 15.8% during the second quarter. Studio Investment Management LLC now owns 10,051 shares of the coffee company’s stock worth $782,000 after buying an additional 1,371 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Thursday, September 12th. Jefferies Financial Group lowered their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Finally, Barclays upped their price target on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.08.

Starbucks Stock Performance

Shares of Starbucks stock opened at $96.05 on Friday. The firm has a fifty day moving average of $86.67 and a two-hundred day moving average of $84.04. The stock has a market capitalization of $108.84 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.31 and a beta of 0.96. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced 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. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company 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 EPS. The firm’s revenue was down .6% on a year-over-year basis. As a group, research analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Activity

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

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.