Scarborough Advisors LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Scarborough Advisors LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 272 shares of the coffee company’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DSM Capital Partners LLC purchased a new position in shares of Starbucks during the fourth quarter worth about $27,000. Riggs Asset Managment Co. Inc. grew its holdings in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Cypress Capital Management LLC WY grew its holdings in shares of Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares during the last quarter. Atticus Wealth Management LLC grew its holdings in shares of Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its holdings in shares of Starbucks by 150.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SBUX shares. Morgan Stanley lowered their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. BTIG Research reduced their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Stifel Nicolaus reduced their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a “buy” rating to a “hold” rating and reduced their price objective for the company from $108.00 to $89.00 in a research report on Wednesday, May 1st. Finally, Jefferies Financial Group reduced their price objective on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Starbucks has a consensus rating of “Hold” and a consensus price target of $95.00.

Starbucks Price Performance

Shares of Starbucks stock opened at $80.20 on Wednesday. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66. The company has a market capitalization of $90.84 billion, a P/E ratio of 22.09, a P/E/G ratio of 1.74 and a beta of 0.97. The business has a 50 day moving average price of $80.73 and a 200 day moving average price of $88.95.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, research analysts expect that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Insiders sold 11,000 shares of company stock worth $902,050 in the last ninety days. Insiders own 1.98% of the company’s stock.

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.