210,994 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Tremblant Capital Group

Tremblant Capital Group acquired a new position in Starbucks Co. (NASDAQ:SBUX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 210,994 shares of the coffee company’s stock, valued at approximately $16,426,000. Starbucks makes up about 1.8% of Tremblant Capital Group’s investment portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cox Capital Mgt LLC increased its holdings in Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after buying an additional 13,372 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of Starbucks during the fourth quarter worth about $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new position in Starbucks during the fourth quarter worth about $31,246,000. Fidelis Capital Partners LLC boosted 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 acquiring an additional 1,751 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC acquired a new position in Starbucks during the fourth quarter worth about $4,048,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SBUX. Barclays boosted their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 21st. Evercore ISI raised 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. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Finally, Citigroup upped their target price on shares of Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. One equities research 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. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $100.08.

Insider Buying and Selling

In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s 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 sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $95.48 on Tuesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company has a market cap of $108.15 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. The firm has a fifty day moving average of $87.12 and a 200-day moving average of $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, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. Analysts predict that Starbucks Co. will post 3.56 EPS for the current year.

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.