Starbucks Co. (NASDAQ:SBUX) Shares Bought by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. raised its position in Starbucks Co. (NASDAQ:SBUX) by 10.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 50,475 shares of the coffee company’s stock after buying an additional 4,907 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Starbucks were worth $3,929,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of SBUX. Norges Bank acquired a new position in Starbucks in the 4th quarter valued at $1,240,652,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks during the 1st quarter worth $415,167,000. Flossbach Von Storch AG grew its stake in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the period. Capital World Investors acquired a new position in shares of Starbucks during the 1st quarter worth $257,721,000. Finally, Van ECK Associates Corp grew its stake in shares of Starbucks by 108.1% during the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after purchasing an additional 2,324,847 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 1.1 %

Shares of NASDAQ SBUX opened at $99.28 on Friday. The stock has a market capitalization of $112.50 billion, a P/E ratio of 27.35, a PEG ratio of 2.35 and a beta of 0.96. The stock’s 50 day moving average price is $83.94 and its two-hundred day moving average price is $83.96. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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 company had revenue of $9.11 billion for 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 revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm posted $1.00 EPS. On average, analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Analyst Ratings Changes

SBUX has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Thursday. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, August 21st. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $99.83.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

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.