Lombard Odier Asset Management USA Corp Purchases Shares of 4,214 Starbucks Co. (NASDAQ:SBUX)

Lombard Odier Asset Management USA Corp purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,214 shares of the coffee company’s stock, valued at approximately $328,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Public Sector Pension Investment Board grew its position in Starbucks by 73.1% in the second quarter. Public Sector Pension Investment Board now owns 43,633 shares of the coffee company’s stock valued at $3,397,000 after purchasing an additional 18,420 shares in the last quarter. DRW Securities LLC grew its holdings in shares of Starbucks by 20.6% in the 2nd quarter. DRW Securities LLC now owns 6,609 shares of the coffee company’s stock valued at $513,000 after acquiring an additional 1,130 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Starbucks by 5.2% in the second quarter. EverSource Wealth Advisors LLC now owns 12,591 shares of the coffee company’s stock valued at $981,000 after acquiring an additional 627 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of Starbucks in the second quarter valued at about $93,000. Finally, Epoch Investment Partners Inc. raised its holdings in Starbucks by 0.7% during the second quarter. Epoch Investment Partners Inc. now owns 1,207,537 shares of the coffee company’s stock worth $94,007,000 after acquiring an additional 8,556 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of analyst reports. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Thursday, September 12th. Jefferies Financial Group decreased their target price on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, BMO Capital Markets upped their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $100.08.

Insider Buying and Selling at Starbucks

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

Starbucks Trading Down 0.6 %

Shares of SBUX opened at $95.48 on Tuesday. The stock has a market capitalization of $108.15 billion, a PE ratio of 26.30, a P/E/G ratio of 2.31 and a beta of 0.96. The firm’s 50 day moving average is $87.12 and its 200-day moving average is $84.02. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the previous year, the firm earned $1.00 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts predict that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Company 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.