3Chopt Investment Partners LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

3Chopt Investment Partners LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,065 shares of the coffee company’s stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Vima LLC acquired a new stake in shares of Starbucks in the 4th quarter worth $26,000. Scarborough Advisors LLC acquired a new stake in Starbucks during the fourth quarter worth about $26,000. New Millennium Group LLC purchased a new position in Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC boosted 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 purchasing an additional 279 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Starbucks in the 2nd quarter valued at approximately $27,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated 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 directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.1 %

Starbucks stock opened at $97.43 on Wednesday. The stock has a 50 day moving average of $89.58 and a two-hundred day moving average of $84.24. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a market capitalization of $110.41 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.33 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during 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 company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company earned $1.00 earnings per share. Equities analysts predict that Starbucks Co. will post 3.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SBUX shares. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research note on Wednesday, July 31st. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and reduced their price target for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Finally, Citigroup upped their price objective on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $101.12.

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.