The Manufacturers Life Insurance Company Has $142.01 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

The Manufacturers Life Insurance Company lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 158.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,824,133 shares of the coffee company’s stock after purchasing an additional 1,117,343 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.16% of Starbucks worth $142,009,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SBUX. BMO Capital Markets lifted their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Finally, Citigroup raised their target price on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Two equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $100.52.

Starbucks Stock Down 0.1 %

Shares of SBUX stock 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’s fifty day simple moving average is $88.74 and its 200-day simple moving average is $84.26. The firm has a market cap of $110.33 billion, a PE ratio of 26.82, a P/E/G ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates 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 quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 EPS. On average, equities 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.