Starbucks Co. (NASDAQ:SBUX) Position Increased by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 9.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 209,955 shares of the coffee company’s stock after buying an additional 18,472 shares during the period. Starbucks comprises approximately 2.3% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 16th biggest position. Matrix Asset Advisors Inc. NY’s holdings in Starbucks were worth $20,469,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after buying an additional 470,498 shares in the last quarter. Fisher Asset Management LLC lifted its position in Starbucks by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock worth $1,090,654,000 after buying an additional 260,489 shares in the last quarter. Legal & General Group Plc lifted its position in Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after buying an additional 221,718 shares in the last quarter. Flossbach Von Storch AG lifted its position 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 buying an additional 2,897,282 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Starbucks by 5.2% in the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after buying an additional 266,570 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on 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 directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was bought 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 in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

SBUX stock opened at $95.55 on Friday. The company’s 50-day simple moving average is $92.86 and its 200 day simple moving average is $84.54. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The company has a market capitalization of $108.28 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.11 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results 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 company posted $1.00 earnings per share. Starbucks’s revenue was down .6% compared to the same quarter last year. On average, analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. BMO Capital Markets raised their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Citigroup raised their price target on shares of Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Finally, Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.16.

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.