Leelyn Smith LLC Purchases Shares of 41,383 Starbucks Co. (NASDAQ:SBUX)

Leelyn Smith LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 41,383 shares of the coffee company’s stock, valued at approximately $3,222,000.

A number of other institutional investors and hedge funds have also modified their holdings of SBUX. Versant Capital Management Inc raised its holdings in shares of 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 buying an additional 122 shares during the last quarter. Astoria Portfolio Advisors LLC. boosted its position in Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after buying an additional 127 shares during the last quarter. Carolinas Wealth Consulting LLC raised its stake in shares of Starbucks by 4.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock worth $275,000 after buying an additional 133 shares during the last quarter. Edge Capital Group LLC raised its position in shares of Starbucks by 3.4% during the 4th 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 last quarter. Finally, M&R Capital Management Inc. boosted its position in shares of Starbucks by 30.9% in the 2nd 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 during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

NASDAQ:SBUX opened at $98.57 on Friday. The company has a market cap of $111.70 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.35 and a beta of 0.96. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm’s fifty day moving average price is $84.39 and its two-hundred day moving average price is $83.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 EPS. As a group, equities research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’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 transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays increased their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Bank of America increased their price target on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. The Goldman Sachs Group assumed coverage on shares of Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $99.83.

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.