Ted Buchan & Co Buys New Position in Starbucks Co. (NASDAQ:SBUX)

Ted Buchan & Co bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 8,223 shares of the coffee company’s stock, valued at approximately $640,000.

Several other hedge funds have also modified their holdings of SBUX. Vima LLC purchased a new stake in Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in Starbucks during the 4th quarter worth approximately $26,000. New Millennium Group LLC purchased a new stake in Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC increased its holdings in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in Starbucks during the 2nd quarter worth approximately $27,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SBUX. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and lowered their price target for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Bank of America boosted their price target on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

Starbucks Stock Performance

Shares of SBUX stock 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 fifty day moving average of $89.16 and a two-hundred day moving average of $84.19. The firm has a market capitalization of $110.43 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

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. The business had revenue of $9.11 billion during 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%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. Equities research analysts predict that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on 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 directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

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.