King Luther Capital Management Corp Has $4.77 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

King Luther Capital Management Corp reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 27.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,305 shares of the coffee company’s stock after selling 22,685 shares during the period. King Luther Capital Management Corp’s holdings in Starbucks were worth $4,773,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SBUX. Vima LLC bought a new position in Starbucks during the fourth quarter valued at about $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks during the 4th quarter worth about $26,000. New Millennium Group LLC bought a new stake in Starbucks during the 2nd quarter valued at approximately $26,000. Stephens Consulting LLC grew its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the last quarter. Finally, DSM Capital Partners LLC bought a new position in Starbucks in the 4th quarter worth approximately $27,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SBUX shares. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. One equities research 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. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $100.08.

Starbucks Stock Down 0.9 %

Shares of NASDAQ:SBUX opened at $96.05 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company’s 50-day moving average price is $86.67 and its two-hundred day moving average price is $84.04. The firm has a market cap of $108.84 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.31 and a beta of 0.96.

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

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

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.