O Keefe Stevens Advisory Inc. Purchases 1,780 Shares of Starbucks Co. (NASDAQ:SBUX)

O Keefe Stevens Advisory Inc. increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 51.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,235 shares of the coffee company’s stock after purchasing an additional 1,780 shares during the period. O Keefe Stevens Advisory Inc.’s holdings in Starbucks were worth $510,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks during the first quarter worth $415,167,000. Marshall Wace LLP lifted its holdings in Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after buying an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in Starbucks in the 2nd quarter valued at about $243,910,000. Flossbach Von Storch AG grew its stake in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Finally, Capital World Investors bought a new position in Starbucks in the 1st quarter worth about $257,721,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SBUX. Citigroup boosted their price target on Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday. Bank of America upped their target price on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Barclays lifted their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $101.16.

Starbucks Stock Up 0.1 %

Shares of NASDAQ SBUX opened at $96.21 on Wednesday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The firm has a market cap of $108.98 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.12 and a beta of 0.97. The business’s 50 day moving average price is $91.33 and its 200 day moving average price is $84.36.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the firm earned $1.00 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Starbucks news, 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 value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks 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.