Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Precedent Wealth Partners LLC

Precedent Wealth Partners LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 19.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,064 shares of the coffee company’s stock after buying an additional 1,455 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Starbucks were worth $884,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SBUX. Ontario Teachers Pension Plan Board purchased a new stake in Starbucks in the 1st quarter valued at $415,167,000. Marshall Wace LLP increased its position in Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after acquiring an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. purchased a new stake in Starbucks during the 2nd quarter valued at approximately $243,910,000. Flossbach Von Storch AG lifted its position in 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 acquiring an additional 2,897,282 shares during the period. Finally, Capital World Investors purchased a new position in shares of Starbucks in the 1st quarter valued at approximately $257,721,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the 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 transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, 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 value 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, 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 disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

SBUX stock opened at $96.84 on Friday. The stock’s 50 day moving average price is $94.90 and its 200 day moving average price is $84.73. The firm has a market cap of $109.69 billion, a P/E ratio of 26.68, a PEG ratio of 2.08 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 earnings per share. On average, research analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Analyst Ratings Changes

SBUX has been the subject of several analyst reports. Morgan Stanley upped their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays upped their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Bank of America boosted their target price on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $102.44.

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.