MBB Public Markets I LLC Grows Holdings in Starbucks Co. (NASDAQ:SBUX)

MBB Public Markets I LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 2,424.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,346 shares of the coffee company’s stock after buying an additional 77,163 shares during the period. MBB Public Markets I LLC’s holdings in Starbucks were worth $6,255,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Versant Capital Management Inc grew its position in shares of Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after acquiring an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its holdings in Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after purchasing an additional 127 shares during the period. Carolinas Wealth Consulting LLC increased its stake in Starbucks by 4.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after purchasing an additional 133 shares during the last quarter. Edge Capital Group LLC raised its holdings in shares of Starbucks by 3.4% during the fourth quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after purchasing an additional 134 shares during the period. Finally, M&R Capital Management Inc. boosted its holdings in shares of Starbucks by 30.9% in the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after buying an additional 134 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 0.1 %

Shares of NASDAQ SBUX opened at $97.36 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a market cap of $110.33 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 2.26 and a beta of 0.96. The business has a fifty day simple moving average of $88.74 and a 200-day simple moving average of $84.26.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company posted $1.00 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’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 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 accessible through this link. In other Starbucks 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on SBUX. Morgan Stanley reiterated an “overweight” rating and set a $98.00 price objective on shares of Starbucks in a research note on Wednesday, July 31st. BMO Capital Markets raised their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.52.

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.