Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Semmax Financial Advisors Inc.

Semmax Financial Advisors Inc. raised its position in Starbucks Co. (NASDAQ:SBUX) by 12.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 60,333 shares of the coffee company’s stock after purchasing an additional 6,916 shares during the period. Starbucks accounts for approximately 1.4% of Semmax Financial Advisors Inc.’s portfolio, making the stock its 19th biggest holding. Semmax Financial Advisors Inc.’s holdings in Starbucks were worth $4,697,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Cox Capital Mgt LLC boosted its position in Starbucks by 41.9% during the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after acquiring an additional 13,372 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Starbucks during the 4th quarter worth approximately $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $31,246,000. Fidelis Capital Partners LLC lifted its position in Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC acquired a new position in Starbucks during the fourth quarter worth $4,048,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SBUX shares. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Thursday, September 12th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, Barclays boosted their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.08.

Starbucks Stock Performance

Starbucks stock opened at $95.48 on Tuesday. The firm has a market capitalization of $108.15 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The stock’s fifty day moving average is $87.12 and its two-hundred day moving average is $84.02.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the firm posted $1.00 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks 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 value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

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.