Acadian Asset Management LLC Has $2.49 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Acadian Asset Management LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 377.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 31,982 shares of the coffee company’s stock after acquiring an additional 25,281 shares during the quarter. Acadian Asset Management LLC’s holdings in Starbucks were worth $2,488,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Vima LLC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new position in Starbucks during the fourth quarter worth $26,000. New Millennium Group LLC acquired a new position in shares of Starbucks in the second quarter valued at $26,000. Stephens Consulting LLC raised its position in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the period. Finally, DSM Capital Partners LLC bought a new position in shares of Starbucks in the fourth quarter valued at about $27,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction 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 transaction, 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 can be accessed through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.7 %

Shares of SBUX stock opened at $98.57 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The business has a fifty day simple moving average of $84.39 and a 200 day simple moving average of $83.99. The company has a market cap of $111.70 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.35 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $1.00 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Jefferies Financial Group decreased their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. JPMorgan Chase & Co. dropped their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 21st. Finally, Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.83.

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.