MGO One Seven LLC Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

MGO One Seven LLC boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,465 shares of the coffee company’s stock after acquiring an additional 1,510 shares during the quarter. MGO One Seven LLC’s holdings in Starbucks were worth $2,216,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after purchasing an additional 470,498 shares in the last quarter. Norges Bank purchased a new position in Starbucks in the fourth quarter valued at about $1,240,652,000. Fisher Asset Management LLC increased its holdings in Starbucks by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock valued at $1,090,654,000 after buying an additional 260,489 shares in the last quarter. Flossbach Von Storch AG lifted its position in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Starbucks by 3.1% during the 4th quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock worth $529,147,000 after acquiring an additional 166,010 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. 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 price target for the company. Wedbush reissued a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

Starbucks Stock Performance

Starbucks stock opened at $98.20 on Thursday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a 50 day moving average price of $83.48 and a 200 day moving average price of $83.86. The company has a market cap of $111.28 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.18 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) 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 net margin of 11.16% and a negative return on equity of 49.38%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 EPS. Sell-side analysts predict that Starbucks Co. will post 3.56 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders sold 9,790 shares of company stock worth $865,514 over the last three months. 1.98% of the stock is owned by insiders.

Starbucks 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.