Waterloo Capital L.P. Purchases 326 Shares of Starbucks Co. (NASDAQ:SBUX)

Waterloo Capital L.P. increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 13.7% in the second quarter, HoldingsChannel.com reports. The fund owned 2,704 shares of the coffee company’s stock after acquiring an additional 326 shares during the period. Waterloo Capital L.P.’s holdings in Starbucks were worth $210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SBUX. Versant Capital Management Inc grew its position in shares of Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after buying an additional 122 shares during the period. Astoria Portfolio Advisors LLC. boosted its position in Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after purchasing an additional 127 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its holdings in shares of Starbucks by 4.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock worth $275,000 after buying an additional 133 shares during the last quarter. Edge Capital Group LLC boosted its stake in shares of Starbucks by 3.4% during the 4th quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after acquiring an additional 134 shares during the last quarter. Finally, M&R Capital Management Inc. lifted its position in Starbucks by 30.9% during the second quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after purchasing an additional 134 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Up 0.8 %

Shares of SBUX opened at $96.90 on Friday. The firm has a market capitalization of $109.81 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.31 and a beta of 0.96. The firm has a fifty day moving average price of $86.24 and a 200-day moving average price of $84.07. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

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

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SBUX has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Barclays raised their price objective on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group dropped their price objective 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $100.08.

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.