Kimelman & Baird LLC Purchases Shares of 2,816 Starbucks Co. (NASDAQ:SBUX)

Kimelman & Baird LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,816 shares of the coffee company’s stock, valued at approximately $219,000.

A number of other large investors have also recently bought and sold shares of the stock. Versant Capital Management Inc grew its position in Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after acquiring an additional 122 shares during the period. Astoria Portfolio Advisors LLC. grew its position in Starbucks by 2.0% in 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. Edge Capital Group LLC grew 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 valued at $390,000 after acquiring an additional 134 shares during the period. M&R Capital Management Inc. boosted its stake in Starbucks by 30.9% in the second 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 in the last quarter. Finally, Fragasso Financial Advisors Inc boosted its stake in Starbucks by 1.1% in the second quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock worth $999,000 after purchasing an additional 135 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Transactions at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred 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 approximately $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on SBUX shares. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. BMO Capital Markets boosted their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Bank of America boosted their price objective on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.12.

Starbucks Trading Up 0.1 %

Shares of SBUX opened at $97.49 on Tuesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The stock has a market cap of $110.43 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The stock’s 50-day moving average price is $89.16 and its two-hundred day moving average price is $84.19.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3.56 EPS for the current year.

About Starbucks

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.