Mount Yale Investment Advisors LLC Purchases 3,650 Shares of Starbucks Co. (NASDAQ:SBUX)

Mount Yale Investment Advisors LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 18.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,160 shares of the coffee company’s stock after buying an additional 3,650 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Starbucks were worth $1,803,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SBUX. Cox Capital Mgt LLC raised its stake in Starbucks by 41.9% in the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $31,246,000. Fidelis Capital Partners LLC grew its position in Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC bought a new position in Starbucks during the 4th quarter worth $4,048,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBUX has been the subject of a number of recent analyst reports. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Wedbush reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research report on Tuesday, August 13th. Jefferies Financial Group decreased their target price on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.08.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $96.05 on Monday. The company has a 50 day simple moving average of $86.67 and a 200 day simple moving average of $83.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a market cap of $108.84 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last released 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 firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’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 value of $299,916.40. Following the sale, the chief executive officer now directly 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 is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, 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. Company insiders own 1.98% of the company’s stock.

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.