Resources Management Corp CT ADV Has $3.21 Million Position in Starbucks Co. (NASDAQ:SBUX)

Resources Management Corp CT ADV lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 15.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,198 shares of the coffee company’s stock after acquiring an additional 5,617 shares during the period. Resources Management Corp CT ADV’s holdings in Starbucks were worth $3,207,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position 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 valued at $9,907,020,000 after acquiring an additional 470,498 shares during the period. Fisher Asset Management LLC increased its stake in Starbucks by 2.3% during 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 in the last quarter. Flossbach Von Storch AG increased its stake in Starbucks by 106.7% during 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 in the last quarter. Nordea Investment Management AB increased 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 purchasing an additional 266,570 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased 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 purchasing 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 0.6 %

NASDAQ SBUX opened at $95.48 on Tuesday. The company has a market cap of $108.15 billion, a PE ratio of 26.30, a price-to-earnings-growth 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. The firm’s 50-day simple moving average is $87.12 and its two-hundred day simple moving average is $84.02.

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, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the firm posted $1.00 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on SBUX. Morgan Stanley restated an “overweight” rating and set a $98.00 price target on shares of Starbucks in a research note on Wednesday, July 31st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. BMO Capital Markets upped their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Finally, Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.08.

Insider Transactions at Starbucks

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

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.