Public Sector Pension Investment Board Purchases 18,420 Shares of Starbucks Co. (NASDAQ:SBUX)

Public Sector Pension Investment Board boosted its position in Starbucks Co. (NASDAQ:SBUX) by 73.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 43,633 shares of the coffee company’s stock after buying an additional 18,420 shares during the period. Public Sector Pension Investment Board’s holdings in Starbucks were worth $3,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $26,000. Vima LLC acquired a new stake in Starbucks in the 4th quarter worth about $26,000. Fairman Group LLC bought a new stake in Starbucks in the 4th quarter valued at about $30,000. Raleigh Capital Management Inc. grew its position in shares of Starbucks by 150.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 198 shares in the last quarter. Finally, New Millennium Group LLC bought a new position in shares of Starbucks during the second quarter worth approximately $26,000. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $92.00 to $115.00 in a report on Thursday. Wedbush reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, Morgan Stanley restated an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.52.

Starbucks Stock Performance

SBUX stock opened at $97.36 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The company has a market capitalization of $110.33 billion, a P/E ratio of 26.82, a PEG ratio of 2.26 and a beta of 0.96. The company has a fifty day moving average price of $88.74 and a 200-day moving average price of $84.26.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm 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 quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. As a group, sell-side analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred 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 owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were 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 directly owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale 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.