Thoroughbred Financial Services LLC Has $1.10 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Thoroughbred Financial Services LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 63.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 14,164 shares of the coffee company’s stock after acquiring an additional 5,498 shares during the period. Thoroughbred Financial Services LLC’s holdings in Starbucks were worth $1,102,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vima LLC acquired a new position in Starbucks in the 4th quarter worth $26,000. Scarborough Advisors LLC bought a new stake in shares of Starbucks during the 4th quarter worth about $26,000. New Millennium Group LLC acquired a new position in shares of Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC lifted its holdings in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares in the last quarter. Finally, DSM Capital Partners LLC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX opened at $98.57 on Monday. The firm has a market capitalization of $111.70 billion, a PE ratio of 27.15, 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. The company’s fifty day moving average price is $84.39 and its 200-day moving average price is $83.86.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SBUX. Jefferies Financial Group cut their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. The Goldman Sachs Group started coverage on shares of Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price target for the company. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $99.83.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Corporate 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.