Starbucks Co. (NASDAQ:SBUX) Shares Acquired by MSA Advisors LLC

MSA Advisors LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 20.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 357,829 shares of the coffee company’s stock after buying an additional 61,900 shares during the period. Starbucks accounts for approximately 8.0% of MSA Advisors LLC’s holdings, making the stock its 3rd largest holding. MSA Advisors LLC’s holdings in Starbucks were worth $27,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Cox Capital Mgt LLC boosted its holdings in Starbucks by 41.9% during the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after acquiring an additional 13,372 shares during the period. Brevan Howard Capital Management LP acquired a new position in Starbucks during the fourth quarter worth approximately $2,781,000. Sanibel Captiva Trust Company Inc. purchased a new position in shares of Starbucks in the 4th quarter valued at approximately $31,246,000. Fidelis Capital Partners LLC grew its stake in shares of Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 1,751 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC purchased a new position in shares of Starbucks in the 4th quarter valued at approximately $4,048,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Down 2.3 %

SBUX stock opened at $96.31 on Tuesday. The stock has a 50-day moving average price of $84.82 and a two-hundred day moving average price of $83.87. The stock has a market cap of $109.14 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion during 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%. Starbucks’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 EPS. On average, analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Activity at Starbucks

In other Starbucks news, 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 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 $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 completion of the sale, 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. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on SBUX. Jefferies Financial Group decreased their price target on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Wedbush reissued a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. The Goldman Sachs Group started coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. Citigroup upped their target price on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Finally, Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.