Gill Capital Partners LLC Grows Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Gill Capital Partners LLC raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 9.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,049 shares of the coffee company’s stock after buying an additional 450 shares during the quarter. Gill Capital Partners LLC’s holdings in Starbucks were worth $492,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at about $26,000. Vima LLC acquired a new position in shares of Starbucks during the fourth quarter valued at about $26,000. Fairman Group LLC acquired a new position in shares of Starbucks during the fourth quarter valued at about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the second quarter valued at about $25,000. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Starbucks by 150.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 198 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 0.1 %

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 business’s fifty day simple moving average is $91.74 and its 200-day simple moving average is $84.40. The firm has a market cap of $108.98 billion, a PE ratio of 26.50, a P/E/G ratio of 2.12 and a beta of 0.97.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SBUX. Bank of America increased their price target on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. increased their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. BMO Capital Markets increased their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Finally, Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $101.16.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated 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 directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

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.