Benjamin Edwards Inc. Has $226,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Benjamin Edwards Inc. lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 29.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,903 shares of the coffee company’s stock after selling 1,239 shares during the quarter. Benjamin Edwards Inc.’s holdings in Starbucks were worth $226,000 at the end of the most recent quarter.

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

Starbucks Stock Down 0.9 %

SBUX stock opened at $96.05 on Friday. The firm has a market capitalization of $108.84 billion, a PE ratio of 26.46, a PEG ratio of 2.31 and a beta of 0.96. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a 50-day simple moving average of $86.67 and a two-hundred day simple moving average of $84.04.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. 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 firm earned $1.00 earnings per share. Starbucks’s revenue was down .6% on a year-over-year basis. On average, equities research analysts anticipate that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent analyst reports. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. The Goldman Sachs Group initiated coverage on Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective on the stock. Barclays raised their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.08.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate 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.