Elo Mutual Pension Insurance Co Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

Elo Mutual Pension Insurance Co decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,462 shares of the coffee company’s stock after selling 4,991 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Starbucks were worth $7,665,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Versant Capital Management Inc lifted its stake in Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after purchasing an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its position in Starbucks by 2.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after buying an additional 127 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its stake in 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 grew its holdings in Starbucks by 3.4% in the 4th quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock valued at $390,000 after buying an additional 134 shares in the last quarter. Finally, M&R Capital Management Inc. increased its stake 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 acquiring an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction 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 purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s 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 sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s 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 owns 36,242 shares of the company’s stock, valued at $3,316,143. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SBUX. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a report on Wednesday, August 21st. Wedbush reaffirmed a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. The Goldman Sachs Group began coverage on Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 target price 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 analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

Starbucks Trading Up 0.1 %

Shares of NASDAQ SBUX opened at $96.44 on Wednesday. The stock has a market cap of $109.29 billion, a P/E ratio of 26.57, a P/E/G ratio of 2.38 and a beta of 0.96. The stock has a 50 day moving average of $85.30 and a two-hundred day moving average of $83.89. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 EPS. As a group, research analysts predict that Starbucks Co. will post 3.56 earnings per share for the current year.

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.